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.
On 18 October 2011, the Finish paper and pulp manufacturer M-Real announced the closure of its plant in Alizay (330 employees). In May, the group had announced that the plant was to close if it could not find a credible buyer by the end of September. As negotiations with potential buyers, who demanded to receive funds from M-Real for the take-over, failed, M-Real announced its decision to close.
The public authorities are trying to save the plant and to launch mediation between M-Real and the potential buyer. However, M-Real has started the process of closure.
M-Real had already dismissed 110 employees in 2006.
Update: On the 8th of March 2012, M-Real has announced the closure of its site by the end of June 2012 and the final dismissal of 330 employees. This decision was announced at the end of the information and consultation process. The management has stated that it will reindustrialize the site in the framework of a working group including local authorities and employees' representatives.
Eurofound (2011), M-Real, Closure in France, factsheet number 72602, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72602.
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