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 closure of the URSA's glass wool plant in Salgótarján (Nógrád County) was announced at the workers assembly held in the company's Polish factory, which manages the Hungarian site too. The Salgótarján facility is the firm's smallest one with a production capacity of 13,000 tons. Although the facility was performing well in recent years and has just finished a major renovation of its furnace, it was hit hard by falling demands in the building industry causing a subsequent 70% decrease in production and a three-week temporary suspension of operation in December 2008. Out of 150 employees, 120 will be dismissed, while the others will remain at the plant to deal with stocking and merchandise of the fibreglass now coming from Slovenia, as company tries to hold on to its local market share.
URSA/URALITA, with headquarters in Madrid, is one of the mayor insulation and sealer suppliers of the European construction market. It has a networrk of 38 production facilities in 35 countries employing approximately 4,000 workers.
Eurofound (2009), URSA Salgótarjáni Üveggyapot, Closure in Hungary, factsheet number 68792, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68792.