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.
Nordic Paper is the world's largest manufacturer of a complete range of Greaseproof products, producing the paper range in three mills in Norway and Sweden. The company was founded in october 2001 by the Peterson Group and Norske Skog. 1st of January 2006 the company was sold to the investment company Norgesinvestor AS (40%),the german company Petek GmBh (40%) and two managers.
At the Board meeting 3rd of May it was finally decided to close down one of the mills - Nordic Paper Geithus - which will result in 114 workers losing their jobs. The first decisision was made at the Board meeting 10th of March, followed by intense activity by the union to try to find other solutions.
The reasons stated for closure of the mill are economical. The union has accused the owners of having planned a closure when taking over the company. This has been denied by management. After Board decision in March the union has been helped by Fellesforbundet and LO to make alternative plans for saving money without closure of the mill. The union also tried to get support from the state, without success.
The Board turned down the union alternative, indicating a saving of approx 11 MNOK, at the meeting in May and maintained the decision to close down with a vote 4 by 3(the employee representatives). A few workers will keep their jobs until summer 2007.
Eurofound (2006), Nordic Paper Geithus, Closure in Norway, factsheet number 63440, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63440.
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