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.
On 25th April, SAS management announced the sale of its subsidiary SAS Facility Management AB to Coor Service Management specialised in managing and developing service functions within offices, property, production facilities and public services. All the 130 employees (of whom 45 in Norway) employed at SAS Facility Management AB in Denmark, Norway and Sweden will be transferred to Coor Service Management by 2nd June. They will all keep their salaries and other benefits. Although the unions in SAS are generally opposed to outsourcing, they seem to accept the sale of the facility management. The contract amounts to NOK 1,5 billion.
Coor Service Management is based in Sweden, Denmark, Norway, Finland and Belgium. The group is owned by the investment company Cinven, and the Norwegian subsidiary is a joint venture with Det norske Veritas. Coor Service Management currently employs 3700 (of whom 460 in Norway).
SAS Facility Management AB (and its subisidiaries) handles services to SAS such as property management, production service, conference and reception services in Norway, Sweden and Denmark.
Eurofound (2008), Coor Service Management, Business expansion in European Union, factsheet number 66562, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66562.