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.
Rolast Pitesti is one of the largest producer of technical rubber products in Romania, established in 1990 by integral take over of the patrimony of The Company of Technical Rubber Products Pitesti (Combinatul de Articole Tehnice din Cauciuc Pitesti).
The company has a very wide product range from automotive use to industrial use such as gaskets, carpets and hoses.
On 1 March the company representatives decided to stop the production of technical rubber products and to change the field of activity of the company to real estates market. On 2 April Rolast announced its intention to close the plant, located in Pitesti. As result of concluding the consultations with the representative trade unions, all 760 employees of the company will be subject of collective dismissals before 30 April 2007.
Eurofound (2007), Rolast, Closure in Romania, factsheet number 65203, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65203.