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.
Sydvaranger Gruve, the owner of the Sydvaranger iron ore mine and associated infrastructure, has announced that it is to create approximately 250-300 jobs with the reopening of the mines at Sør-Varanger in Finnmark (in the North of Norway). The spokesman for Sydvaranger Gruve said that the company is expected to start production by May 2009. The company has filed for extraction license and expects all concessions to be in place within March 2008.
Sydvaranger Gruve closed down their mines ten years ago and in 2006 was acquired and financed by the Oslo-based Tschudi Shipping Company. In view of the company acquisition, Tschudi Shipping Company has established a holding company - Northern Iron Limited - together with external investors.
Eurofound (2007), Sydvaranger Gruve, Business expansion in Norway, factsheet number 65841, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65841.