Type
Internal restructuring
Country
Belgium
Region
Vlaams Gewest; Prov. Limburg (B); Arr. Hasselt
Location of affected unit(s)
Tessenderlo
Sector
Manufacturing
Manufacture Of Chemicals And Pharamceuticals
Manufacture Of Chemicals And Chemical Products
20 - Manufacture of chemicals and chemical products

197 jobs
Number of planned job losses
Job loss
Announcement Date
20 June 2006
Employment effect (start)
Foreseen end date

Description

The group Tessenderlo has announced a restructuring plan in order to improve the profitability of its principal division, the chemicals unit. The second largest employer in the Province of Limbourg says this move is necessary because of rapidly changing market conditions, increased international competition and the high price of the raw materials.

In practical terms it will mean a loss of 240 jobs in Europe, of which 197 will be in Limbourg, where the group currently employs 1,419 people (out of a total of 2,169 in Belgium). The group Tessenderlo intends no transfer its activities to low-wage countries.


Sources

  • 20 June 2006: La Libre Belgique

Citation

Eurofound (2006), Tessenderlo, Internal restructuring in Belgium, factsheet number 63668, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63668.