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 plywood producer Stratus Mex from Suceava, part of the group Mobexpert, shall cease activity. The decision is motivated by the representatives of the company as being the inability to enter into competition with the low price of imported products.
“We have decided to close this production unit because we are lacking any perspectives. We face enormous competition from products originating from markets of the Far East, but also from Brazil. Additionally the price of raw materials increases steadily”, stated Dan Sucu, majority shareholder of Mobexpert.
The 192 employees that shall remain without jobs shall benefit of three to ten compensatory wages, depending on their tenure and paid holidays corresponding to the period worked in 2006 and in the notice period.
In 2005, the group Mobexpert (represented by 11 furniture factories, 5 import companies, one logistics company, a real estate company, 14 hypermarkets and 21 shops) has recorded a turnover of 150 millions Euro, an increase by 15% compared to 2004.
The Group currently employs 4,500 people in Romania.
Eurofound (2006), Stratus Mex, Closure in Romania, factsheet number 63731, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63731.