Restructuring events
European Restructuring Monitor (ERM)
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.
After the acquisition of the Austria Frost company in the end of 2005 by the German Frenzel group, 54 out of 320 employees are planned to be made redundant in 2006. Austria Frost, a producer of deep-freeze vegetables located in Groß-Enzersdorf north of Vienna, went bankrupt in 2005 and was about to be closed down completely in the end of the year, when the Frenzel group eventually decided its takeover. The province of Lower Austria (Land Niederösterreich) and the regional office of the Labour Market Service (AMS) have announced to set up a re-employment scheme for the 54 people affected by providing funds of up to EUR 270,000.
Eurofound (2006), Austria Frost, Merger/Acquisition in Austria, factsheet number 62847, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62847.
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