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 plastic component manufacturer Nypro CMS has closed its personnel negotiations which were initiated in July. The company announced it will close down all its businesses. This means that all 140 employees will lose their jobs. The reason for closing down the company is the decreasing volume of orders. The main client of Nypro CMS has been Nokia for which the Nypro CMS has produced mobile phone covers.
According to Helsingin Sanomat of 18 August, Nypro CMSs CEO Mikko Salmela said the shutdown of the companys factory in Salo will be completed by the end of the year 2006. After September the volume of orders will be zero, he explained. The head shop steward of Nypro CMS is fairly optimistic about the re-employment options of the employees in other companies in the Salo region.
Nypro CMS also had personnel negotiations concerning the whole personnel last summer, but negotiations were stopped due to a sudden improvement in the volume of orders.
Eurofound (2006), Nypro CMS, Closure in Finland, factsheet number 63815, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63815.