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.
It has been announced by the commercial court of Montlucon in Allier that an offer by Bioméca-Bronze Alu for the Bréa Aluminium works has been accepted. The consequence of this is that 120 of the 415 jobs at the Bréa Aluminium site, at which aluminium is forged, will be lost. Bréa Aluminium achieved a turnover of approximately 40 million EUR in 2007, yet has recently suffered from a decline in competitiveness due to a lack of investment and insufficient marketing. The firm’s main shareholder, Euralcom, has also experienced recent financial problems. Staff representatives at Bréa Aluminium have stated that they will meet with the local authorities in Allier in order to discuss the job losses. Four offers for the site were made to the Montlucon commercial court. Of the four offers, the Bioméca-Bronze Alu proposal involved the most potential job cuts. As of November 2007, there is no information on when the job losses will be implemented by.
Eurofound (2007), Bréa aluminium, Merger/Acquisition in France, factsheet number 66066, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66066.
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