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.
Clariant, a multi-national group that produces chemicals, has announced that it is to close its site in Selby in North Yorkshire with the loss of 128 jobs. The Selby site produces special chemicals for leather treatment products, and the firm has attributed the closure to the loss of a key customer and to a rise in the price of electricity, gas and other materials. The Selby plant is due to close by the end of 2008, and management at the firm has stated that it is looking at the possibility of offering affected workers jobs at other plants. Clarion also said that detailed consultations with staff and unions will take place. Peter Palm, country president of Clariant in the UK, stated:
‘To arrive at the proposal to close our site at Selby was very difficult. We are, however, losing a major customer account, which is a large part of our business. The continued rise in the price of gas, electricity and vital raw materials together with the unfavourable exchange rate for our exports has left us with no other choice but to review production at Selby.'
Eurofound (2007), Clariant, Closure in United Kingdom, factsheet number 66019, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66019.