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.
Chemical manufacturing company Croda International is to close its Bromborough factory in Merseyside, resulting in 115 job losses, having failed to find a buyer for the site. The factory is part of company's industrial specialties division, which has seen sales fall by 20 percent in the first quarter. Croda blamed the global recession for the decline in demand for its products. Merseyside's Trades Union Congress (TUC) expressed concern over how companies made economies by closing branches; the president of Merseyside TUC, Alex McFadden, said "The Bromborough factory could be chopped because to them its just a small part of a massive empire." No details were given on the date by which job losses are expected to be completed.
Eurofound (2009), Croda International, Closure in United Kingdom, factsheet number 68849, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68849.