Austria Frost

Type
Merger/Acquisition
Country
Austria
Region
Ostösterreich; Niederösterreich; Wiener Umland/Nordteil
Location of affected unit(s)
Groß-Enzersdorf
Sector
Manufacturing
(10 - 11) Manufacture of food and beverage
10 - Manufacture of food products
10 - Manufacture of food products
54 jobs
Number of planned job losses
Job loss
Announcement Date
18 January 2006
Employment effect (start)
1 January 2006
Foreseen end date

Description

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.

Sources

  • 18 January 2006: Der Standard

Citation

Eurofound (2006), Austria Frost, Merger/Acquisition in Austria, factsheet number 62847, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62847.