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.
R-Glass Hungary Üvegipari Kft, a hollow glass producer, will dismiss all of its 277 employees in Salgótarján (Nógrád county). The company is under liquidation, which is likely to result in the closure of the plant. All employees will be dismissed within the framework of mass redundancy. At present the liquidator is selling out the remaining stocks of the factory, later the company's assets and other properties will also be sold.There had been hopes that the company would endure the liquidation process, as it did it so in 2005; however, such hopes were shattered by the fact that selling a working production facility as one piece with unsettled debts is virtually impossible. The last drop was the suspension of the provision of gas services as a result of debts, which made further production impossible and sealed the destiny of the plant.The company is owned by the Slovakian R-Glass. It used to export 90% of its production to more than 20 countries.
Eurofound (2009), R-Glass Hungary Üvegipari, Bankruptcy in Hungary, factsheet number 70030, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70030.