Type
Merger/Acquisition
Country
Germany
Region
Nordrhein-Westfalen; Arnsberg; Bochum
Location of affected unit(s)
Bochum
Sector
Manufacturing
Manufacture Of Material For Textiles, Apparel, Leather And Related Products
Manufacture Of Textiles
13 - Manufacture of textiles

100 - 120 jobs
Number of planned job losses
Job loss
Announcement Date
27 September 2006
Employment effect (start)
Foreseen end date

Description

The Italian textile and energy group Miro Radici which already owned 50% of German garment company Steilmann announced on 27 October 2006 that it would now completely take over the company.

In the course of forthcoming restructurings the company plans to cut between 100 and 120 jobs of a total of 460. Steilmann had faced financial difficulties for a number of years.


Sources

  • 27 September 2006: Handelsblatt

Citation

Eurofound (2006), Steilmann Group, Merger/Acquisition in Germany, factsheet number 64218, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64218.