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.
Verrerie du Languedoc has announced that the company will be sold. Of the 475 employees at the Verrerie du Languedoc glassworks in the south of France, 300 have now learned they are to lose their jobs between August 2006 and July 2007 as the Nestle subsidiary is taken over by Financiere de la Croix Blanche. The CEO of the new owner (Financiere de la Croix Blanche), also intends to cut down employment by a further 18% and shut down one of the two furnaces after company has merged. The Trade Unions hope to avoid this final measure and it is thought that the state is willing to step in to save some jobs. The glassworks, currently wholly owned by the Swiss confectionary giant, manufactures bottles for Perrier and San Pellegrino mineral water.
Eurofound (2006), Verrerie du Languedoc, Merger/Acquisition in France, factsheet number 63750, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63750.