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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
200 jobs Number of planned job losses
Announcement Date
13 October 2005
Employment effect (start)
Foreseen end date
Description
ASIRobicon Spa, a global company operating in the industrial systems and power conversion market, has recently been acquired by the US investment fund Patriarch Partners from the US-based multinational company HVE-Robicon. The new owners have presented a business plan which includes new investments of €10 million in the next two years, the closure of one of the five plants in Italy and 200 redundancies. The company presently employs 1,400 people: 1,050 people work in the five plants in Italy while the remainder is employed by the foreign subsidiaries, which are located in France, Germany and Romania. The plant whose closure has been announced is the one located in Trieste. The other Italian plants are in Genova, Milan, Monfalcone and Vicenza. The unions have criticised the decision to close the Trieste plant and reduce employment levels, while at the same time have appreciated the company's commitment to new investment.
Sources
13 October 2005: Il Sole 24 Ore
Citation
Eurofound (2005), ASIRobicon Spa, Merger/Acquisition in Italy, factsheet number 62734, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62734.
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