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.
The company Fornica, specialized in the manufacture of veneer sheets, will close its plant located in Galdakao (the Basque Country). The closure implies the dismissal of 240 workers. The measure is blamed on a drop in production by 40%.
After the closure of the plant in Galdakao, the company's only remaining plant in will be located in Valencia.
Eurofound (2012), Formica, Closure in Spain, factsheet number 73925, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73925.