The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22 - Manufacture of rubber and plastic products
200 jobs Number of planned job losses
Announcement Date
31 October 2005
Employment effect (start)
31 October 2005
Foreseen end date
Description
Moldoplast company is set to make 200 employees redundant. The last government session in October 2005, approved social protection measures for the redundant employees. They will benefit from the provisions of Emergency Ordinance no. 8/2003, and will receive redundancy pay depending on length of service.
Moldoplast has 35 years of experience in manufacturing plastics (plates, sheets, tubes and various other profiles).
The government decision is in line with the commitments Romania made to international bodies, namely to reduce the number of employees in state owned companies.
In a press release of 7 December 2005, the Authority for State Assets Recovery (Autoritatea pentru Valorificarea Activelor Statului, AVAS) announced it had finalised the privatisation of Moldoplast, the total value of the transaction amounting to €3.95 million.
Eurofound (2005), Moldoplast, Internal restructuring in Romania, factsheet number 62672, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62672.
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