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 For Transport Equipment Manufacture Of Other Transport Equipment 30 - Manufacture of other transport equipment
300 jobs Number of planned job creations
Announcement Date
3 June 2010
Employment effect (start)
3 June 2010
Foreseen end date
Description
Palumbo, the Italian company specialising in ship building and ship repair, is to recruit between 100 to 300 new employees at its newly acquired Malta Shipyards.
The Italian company Palumbo took over the Malta dockyard on the 3rd June 2010 after signing a privatisation deal with Finance Minister Tonio Fenech. Palumbo has two smaller yards in Naples and Messina and the purchase of the Malta dockyard demonstrated its intention to expand.
The Malta dockyard traces its origins to the time of the knights. 1975 government had nationalised the operation and the Malta Drydocks Corporation was formed, eventually becoming Malta Shipyards, until its closure on March 2010.
Sources
3 June 2010: Times of Malta
Citation
Eurofound (2010), Palumbo, Business expansion in Malta, factsheet number 70631, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70631.
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