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.
Dolgarrog Aluminium, a firm that produces a range of aluminium products, is to close its site in the Conwy Valley in North Wales with the loss of 170 jobs. The announcement of the job losses, made on 3rd October 2007, follows the firm entering administration in September 2007. Administrators KPMG had hoped to find a buyer for the plant, but were unable to. A spokeswoman for KPMG stated:
‘We had been hopeful we'd be able to find a buyer for the business but those interested in buying couldn't come up with the necessary funds… The process of winding down means not everybody will leave immediately but all the jobs will go when the winding down process is complete.’
Ieuan Wyn Jones, Deputy First Minister of the Welsh Assembly Government, stated:
‘We have worked extremely hard to try to secure a future for Dolgarrog - and I give my commitment that we will continue to do so. I have personally been in touch on many occasions with senior management at the plant and will, of course, continue close co-operation with the administrators.’
Dolgarrog Aluminium was established in 2002 and had a turnover of 19 million GBP in 2006. As of October 2007, there is no further information on when operations at the plant will end.
Eurofound (2007), Dolgarrog Aluminium, Closure in United Kingdom, factsheet number 65891, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65891.
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