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.
Kitchen and bathroom furniture company Novart is to close its plant at Forssa with the loss of 152 jobs. The production will be relocated to its Nastola factory also in southern Finland. The job cuts are due to the decline in the construction of residential properties, causing reduced order intake and order backlog. The job cuts will be implemented by June 2009 and will not affect customer deliveries or customer relations. Novart, which is part of Swedish company Nobia, employs some 520 employees in Finland.
Eurofound (2008), Novart, Relocation in Finland, factsheet number 68242, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68242.