Plysorol

Type
Merger/Acquisition
Country
France
Region
Normandie; Basse-Normandie ; Calvados
Location of affected unit(s)
Lisieux
Sector
Manufacturing
(16 - 17) Manufacture of wood and paper materials
16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
150 - 222 jobs
Number of planned job losses
Job loss
Announcement Date
12 October 2010
Employment effect (start)
8 November 2010
Foreseen end date

Description

On 12 October 2010 the commercial court in Lisieux approved the takeover of Plysorol by Ghassan Bitar, leading to the loss of between 150 to 222 jobs in Lisieux. The court had previously rejected three other takeover bids before finally deciding to accept the bid by Ghassan Bitar. Ghassan Bitar has indicated that they plan to invest over 11 million euros in the company over the next three years, but that there could be further job reductions during the transition period.

Sources

Citation

Eurofound (2010), Plysorol, Merger/Acquisition in France, factsheet number 70960, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70960.