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.
Paper and packaging giant Smurfit Kappa has announced the closure of its carton-manufacturing plant in Dublin with the loss of 140 jobs. The plant makes folding cartons for the healthcare and hi-tech industries. It has lost a number of important contracts recently, including deals with Procter & Gamble, Hewlett-Packard and Symantec. The company was finding it difficult to compete with lower-cost economies in central and eastern Europe. In a statement, Smurfit Kappa said it regretted the closure of the plant. 'The company has been affected by pressures currently being experienced in the Irish manufacturing sector,'. The company said it would 'immediately' enter negotiations with staff representatives to discuss redundancy terms. The factory employs 24 administrative staff and 116 production personnel. These are represented by the Amicus trade union. The plant is expected to close by the end of the summer. The site, which covers about two acres, is expected to be sold for redevelopment.
Eurofound (2007), Smurfit Kappa, Closure in Ireland, factsheet number 65319, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65319.