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.
Draka copper, a copper wire manufacturer, has announced that it is to close its factory in Llanelli with the loss of 135 jobs. The company has indicated that it is no longer viable to transport raw materials into the UK and then ship wire back to factories across Europe due to high transport costs. Production at that factory will end in November at the end of a 3 month consultation period. The sales arm of the operation is to move to Derby while the rest of the business will be consolidated within its European operations. The company hopes that some staff will be transferred to other sites.
Eurofound (2008), Draka copper, Closure in United Kingdom, factsheet number 66959, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66959.