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.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22 - Manufacture of rubber and plastic products
257 jobs Number of planned job losses
Announcement Date
12 July 2006
Employment effect (start)
Foreseen end date
29 December 2006
Description
Reynolds Valence, a manufacturer of pens and pencils that employs 317 people, has announced that the group it belongs to (the American Newell Rubbermaid) has decided to cut 257 jobs before the end of 2006 and should close the factory definitively. The decision of the CEO is justified by the sales turnover which fell by 16.5% between 2004 and 2006. The trade unions have indicated that the French market of pens is in a 'worrying situation' and that competition is 'strong'.
Sources
13 July 2006: Les Echos
Citation
Eurofound (2006), Reynolds Valence, Closure in France, factsheet number 63769, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63769.
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