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.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Paper And Paper Products 17.12 - Manufacture of paper and paperboard
350 jobs Number of planned job losses
Announcement Date
1 October 2009
Employment effect (start)
1 October 2009
Foreseen end date
31 March 2010
Description
Smurfit Cappa Sturovo is to close its paper mill division and dismiss all 350 employees by the end of March 2010. The management blames the closure on decreased competitiveness and surplus production capacity. According to the Ministry of Economy, the closure will breach conditions under which the company had been entitled to state aid since 2004. The Ministry also intended to assist the company, but its management refused.
Sources
1 October 2009: Pravda ()
:
Citation
Eurofound (2009), Smurfit Kappa Štúrovo, Closure in Slovakia, factsheet number 69681, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69681.
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