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.
Molex Incorporated (Molex) is a manufacturer of electronic components. The Company’s core business is the manufacture and sale of electronic components. Molex’s products are used by a number of original equipment manufacturers (OEMs) throughout the world. It designs, manufactures and sells more than 100,000 products, including terminals, connectors, planar cables, cable assemblies, interconnection systems, backplanes, integrated products and mechanical and electronic switches. It also provides manufacturing services to integrate specific components into a customer’s product. The Company’s connectors, interconnecting devices and assemblies are used principally in the telecommunications, data, consumer products, automotive and industrial markets. In July 2008, the Company completed the acquisition of AFlextech, Inc., based in Taiwan.
The CEO of the american Molex Inc. has announced that Molex France is to close its plant in South of France in Villemur-sur-Tarn with the resulting loss of 300 jobs in June 2009.
The firm attributes this decision to cut the jobs to a fall in sales caused by an economic downturn.
The trade unions reacted to the company decision by going on strike; moreover, they seek to involve the national and local authorities in order to avoid the closure of the plant. The trade Unions and politicians are critical against the American group Molex Inc. because the activity is profitable and the US group generate profits.
Eurofound (2008), Molex France, Closure in France, factsheet number 67333, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67333.
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