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.
Packaging firm DS Smith blamed soaring energy costs and a fall in sales as it announced plans to close one of its paper mills, with the loss of 135 staff. Sudbrook Mill, Monmouthshire, is losing £3 million a year and its fuel bills have more than doubled over the past three years. The mill, part of Smith's St Regis division, makes 150,000 tonnes of speciality cardboard packaging a year. Demand has fallen as customers switch to lower-cost alternatives, the firm said. The mill is expected to close by the end of May 2006, with about a third of the estimated £22 million closure costs going on redundancy payments.
Eurofound (2006), DS Smith, Closure in United Kingdom, factsheet number 62965, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62965.