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.
Apem, a computer maintenance company, has gone into bankruptcy and is to close one or both of its two sites in Belgium. A minimum of 120 workers may lose their jobs. According to trade unions, the mismanagement of previous directors is the cause of the severe financial difficulties that the company has faced over the last few years.
According to the current company management, the firm's predicament can be explained by the competitive conditions in the sector and by the need of the company to decrease its price while production costs still remain high.
As of 19th July 2007, Apem is to be bought by the Dutch group Centric, a firm that specialises in consulting, e-business and ICT services. Centric has decided to keep 172 people on at the two sites and therefore only 93 workers will lose their jobs.
New upheavels happened for the employees of Apem. The group Centric that bought up the former computer maintenance company APEM announced the bankrupcy of one of the society (Centric Managed ICT services Schelle) settled from the former company that was divided into three units.
50-70 people will lose their job. The bankrupcy was explained by Centric by the fact that the trustees gave wrong informations about the situation of Apem. What the trustees denied.
Eurofound (2007), Apem, Merger/Acquisition in Belgium, factsheet number 65574, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65574.