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.
Teksid Aluminium, the world technology leader in production of aluminium engine components for the automotive and aerospace industries, has announced that it is to cut 250 jobs with the closure of its plant located in Borgaretto, in the province of Turin. The plant produces aluminium and magnesium alloy castings for the aerospace industry for defence applications, high speed trains and for biomedical applications. Its main customers are: Avio, Airbus, Eurocopter, Hispano Suiza, Sorin and Alstom.
According to the company, the closure of the Borgaretto plant is mainly due to increasing economic losses.
The trade union representatives reacted at the company’s decision by going out on strike and blockading the factory gates. They have demanded the involvement of the local and national authorities in order to find ways to guarantee the continuation of the plant’s production.
In 2007 Teksid Aluminium was acquired by the Fiat Powertrain group.
Eurofound (2008), Teksid Aluminium, Closure in Italy, factsheet number 66371, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66371.