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 CEO of Ascoforge-Safe announced on 21 December 2006 that the Ascoforge-Safe factory in the east of France (in Hagondange, Moselle) which manufactures forged steel parts for vehicles, is to cut 148 jobs before the end of 2008.
According to trade unions, the management of Ascoforge-Safe wants to save EUR 10 million in 2008 and to reach a business result equal to zero in 2008.
In 2006, Ascoforge-Safe Hagondange has a net cumulated loss of more than EUR 7.2 billion.
Ascoforge-Safe with five sites in France, is a subsidiary of Ascometal, an iron and steel company whose owner is the Italian Lucchini group.
Eurofound (2006), Ascoforge-Safe, Internal restructuring in France, factsheet number 64651, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64651.