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.
The commercial court of Elbeuf has approved the takeover plan of EMT Composants factory, manufacturing parts and accessories for motor vehicles, in Caudebec-les-Elbeuf in the Seine-Maritime by Autoliv, the swedish manufacturer of motor parts, cutting 121 jobs in that process from 275 in total next January 2009. EMT Composants was declared bankrupt on 29 May 2008.
The transaction is to take effect from 1st January 2009, and the restructuring programme which will accompany the takeover is expected to result in the loss of 121 out of 275 jobs.
Following the withdrawal of the French bidder GMD and the Indian Sandhar Technologies, Autoliv, the original owner of the site, was the only remaining bidder. The Swedish company sold EM Technologies in 2002, but has remained as its principal customer, purchasing 96 per cent of its production volume. The French manufacturer specialises in metal components for automotive safety fittings.
Eurofound (2008), EMT Composants, Merger/Acquisition in France, factsheet number 67527, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67527.
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