Ekmecha

Type
Bankruptcy
Country
Lithuania
Region
Lietuva; Vidurio ir vakarų Lietuvos regionas ; Panevėžio apskritis
Location of affected unit(s)
Panevėžys
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
500 jobs
Number of planned job losses
Job loss
Announcement Date
31 May 2006
Employment effect (start)
5 June 2006
Foreseen end date

Description

Panevėžys district court is considering starting bankruptcy procedures for Ekmecha, a manufacturer of television tubes in Panevėžys. About 500 people were working in the company and all of them will be dismissed due to the bankruptcy. Ekmecha was working as a subdivision of Ekranas, a big manufacturer of electronic devices, which went bankrupt on 8 April, 2006, due to decreased production sales. Though Ekmecha was supplying goods for some foreign companies in Finland, Sweden and Latvia as well, the orders of Ekranas constituted about 70% of Ekmecha’s sales.

Sources

  • 31 May 2006: Verslo zinios

Citation

Eurofound (2006), Ekmecha, Bankruptcy in Lithuania, factsheet number 63591, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63591.