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.
Cytec, a chemical product manufacturer, is to cut 165 jobs (87 blue collar and 78 white collar workers) at its plant in Drogenbos, Flanders. In Drogenbos, Cytec manufactures the resin powder used in paintings in the automobile industry, construction and graphical arts. Demand for this product has decreased by 40% since the last trimester of 2008. The company intends to centralise its production of resin powder in Italy, while other chemical products will continue be produced at the site in Drogenbos.
Eurofound (2009), Cytec surface specialities, Offshoring/Delocalisation in Belgium, factsheet number 67993, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67993.