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 paper manufacturer M-real is to close down its paper-mill in Hallein, Salzburg, which will entail the loss of some 485 jobs by 2010. Management justified the planned full closure of the firm by arguing that the European paper industry in general and the paper-mill in Hallein in particular are characterised by overcapacities and thus not competitive any more. Nevertheless, the group's cellulose production plant as well as an electricity power station, which are both located in Hallein as well, are planned to be maintained. This means that about 200 out of the group's current 680 employees in Hallein will retain their job.
Eurofound (2009), Hallein Papierfabrik, Closure in Austria, factsheet number 68007, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68007.