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.
VKG Oil, the thermal processor of oil shale, announced the launch of a new plant in Kohtla-Järve which will employ 100 people. The recruitment process started already in January 2009.
The new oil shale processing plant was launched in December 2009 and is planned to start operating at full capacity in 2010. Preparations for the new plant started in the company already in 2002, construction was initiatied in 2007. The plant was finalised in October 2009.
VKG Oil is the biggest oil shale chemical industry in Europe, the main field of activity of which is thermal processing of oil shale. Before the expansion, the company employed 560 persons. Fuel oils and coke are mainly marketed to foreign markets, bitumen to the local market. VKG Oil is the subsidiary of Viru Keemia Grupp which is the biggest oil shale processing company in Estonia.
Eurofound (2009), VKG Oil, Business expansion in Estonia, factsheet number 70027, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70027.