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.
Mátra Cukor Zrt., a Hungarian subsidiary of the German Nordzucker, is to terminate sugar-beet and sugar production in Hungary and close its remaining factory, located in Szerencs, Northern Hungary. Closure of the 120-year-old factory will affect 111 employees. The reason behind the closure is that the management was unable to conclude the agreement with beet suppliers about terms of cooperation, despite the fact that the Hungarian Ministry of Agriculture offered the maximum possible subsidy (EUR4/ton), to complement procurement price paid by the sugar factory, to convince beet producers to continue production.
Eurofound (2008), Mátra Cukor Zrt., Closure in Hungary, factsheet number 66406, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66406.