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.
GDX Automotive, a manufacturer of auxiliary parts for cars, announced on 31 May 2007 the closure of its plant in Palau-Solità i Plegamans (Barcelona) and the dismissal of all 740 employees. This decision follows the company’s closure of its other factory in Catalonia, in Valls. The reason given is the lack of confidence of its clients (Volkswagen and Seat), which has in turn led to a decrease in the volume of orders. The company will announce an Employment Regulation Programme (Expediente de Regulacion de Empleo) which will be executed in two stages -the first by 30 July 2007 and the second by 30 October 2007-, according to the company's needs to relocate its lines of production. The deadline for this process is 30 April 2008 when the site will close down for good.
Eurofound (2007), GDX Automotive, Closure in Spain, factsheet number 65457, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65457.