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.
Saint-Louis, the French sugar group owned by German Südzucker, announced on 23 May 2007 its decision to close down its cane sugar refining operations in Guignicourt (Aisne), in the north of Paris. The closure will take place between January and March 2008 and all 102 employees will lose their jobs. French unit Saint-Louis said in a statement that the plan had been unveiled to unions during a works council meeting. Saint-Louis has been a unit of Suedzucker AG, one of the world's largest sugar makers, since 2001. Suedzucker said the sugar sector was affected by restrictions arising from the new EU sugar market regulation released on 7 May 2007. Should the European Commission's plan be confirmed in October 2007 and should the French sugar producers need to adapt to the reforms, Saint-Louis would then have to cut down its sugar production by 13.5% by 2008.
Eurofound (2007), Saint Louis, Closure in France, factsheet number 65388, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65388.
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