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.
The closure of the Mallow sugar beet factory in Co Cork will result in the loss of 320 full and part-time jobs and the end of a 155-year-old sugar industry. Greencore, which has owned Irish Sugar since it was privatised in the early 1990s, said the last remaining sugar processing plant in Ireland would close in May and would not be processing sugar in this or any subsequent year.
"The decision of the EU Council of Ministers on November 24th, 2005, effectively spelled the end of sugar beet-growing and processing in Ireland," Greencore announced in a statement.
Greencore said that its board had taken independent legal, economic and financial advice and had determined that the group was entitled to 90 per cent, or 131 million, of the EU restructuring compensation, with the remaining 15 million being reserved for growers and machinery manufacturers.
Eurofound (2006), Irish Sugar, Closure in Ireland, factsheet number 63139, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63139.