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.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23 - Manufacture of other non-metallic mineral products
94 jobs Number of planned job losses
Announcement Date
15 May 2007
Employment effect (start)
Foreseen end date
Description
As announced on 15 May 2007, the insolvent Austrian Inn Crystal glass manufacturer headquartered in Braunau (Upper Austria) will be acquired by the German Walther Glas. The official receiver, in charge of administering the estate and facilities of the bankrupt company, awarded the firm to the German buyer when its management presented the required bank guarantee and committed itself to take over the works council of the Austrian company. Moreover, Walther Glas has agreed to retain 170 of the former 264 employees of Inn Crystal. Currently, the workforce of the still operating glass manufacturer is comprised of only 120 employees, to be increased to 170.
Sources
15 May 2007: Wirtschaftsblatt
Citation
Eurofound (2007), Inn Crystal, Merger/Acquisition in Austria, factsheet number 65358, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65358.
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