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.
Due to declining demand, LKAB is forced to give notice to 250 part-time employees. LKAB is now adjusting to the decreased demand for iron ore products by closing several of its pelletizing plants during the winter and spring. Pellet plant MK3 in Malmberget will be shut down for four months, starting 1 December 2008. The Svappavaara plant will be closed from 1 January until the end of May. In other pelletizing plants, production will be stopped for shorter periods during the spring of 2009. The stoppings cause the dismissal of 250 part-time employees. Maintenance and renovation will be carried out in all plants.
LKAB refines iron ore products. The LKAB Group has about 3,800 employees and consists of about 30 companies in 15 countries. Sales in the first nine months of 2008 amounted to about SEK 17.6 billion (EUR 1.5 billion). The company has iron ore mines, processing plants and ore harbors in northern Sweden and Norway and sales offices in Belgium, Germany and Singapore. LKAB is fully owned by the Swedish state. The two sites in Sweden employ 3,200 and the remaining 600 work in other countries.
Eurofound (2008), LKAB, Internal restructuring in Sweden, factsheet number 67673, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67673.