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.
Aluminium company Alcan announced plans to close its Lynemouth plant with the loss of 515 jobs. According to the company the smelter, which opened in 1972, is no longer a sustainable business because energy costs have increased significantly which is blamed on legislation.
The company will hold 90 days of consultation about the planned closure, where it will also be discussed if a power station at the site, employing 111 people, will be sold as well.
Eurofound (2011), Alcan, Closure in United Kingdom, factsheet number 72761, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72761.