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.
US-based Federal-Mogul told 170 workers that it does not need the factory on the former Turner and Newall asbestos factory, in Spodden Valley, Rochdale. The US-based car parts giant Federal-Mogul plans to close the plant although it has told workers there will also be a consultation process about the future of the factory.
It has two manufacturing operations - Sealing Systems and Systems Protection at the plant - which employ 170 people between them. 'In the case of both Sealing Systems and System Protection, we already have production capacity and expertise at other Federal-Mogul sites and so can supply customers from those locations.'
Work has been carried out to remove asbestos contaminated rubble on the rest of the former Turner and Newall site, after a campaign by residents over possible health risks.
Eurofound (2006), Federal-Mogul, Closure in United Kingdom, factsheet number 62941, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62941.