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.
Total Petrochemicals is planning to cease elastomer production in Antwerp. Elastomer is used for bitumen modification (roofs and roads), technical compounds and the improvement of the technical qualities of some plastics. According to the management, economic conditions have been made particularly dificult by the relocation to Asia of both consumption and production processes. In any case, the Antwerp site will remain in operation since the elastomer production was only one out of the 35 processing units located in Antwerpen.
Management has promised to offer each of the 144 employees affected a package involving either compulsory redundancy or early retirement.
Eurofound (2006), Total petrochemicals, Internal restructuring in Belgium, factsheet number 63738, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63738.