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.
Acetex Chimie, a part of US-based chemical grup Celanese, is to close its site in Pardies within 3-7 months, with a consequent loss of 354 jobs. The company blames this decision on weak demand, overcapacity and high costs related to operating the site.
Celanese acquired the Pardies plant in July 2005. The plant specializes in production of acetic acid and vinyl acetate monomer. It registered an operating loss of $14 M in the fourth quarter of 2008, with sales falling 50% year on year.
Eurofound (2009), Acetex, Closure in France, factsheet number 68980, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68980.