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 9 November 2012, the French producer of milk, Candia, announced the closure of three out of eight plants and 313 job cuts.
Candia is owned by the cooperative group Sodiaal (best known for its brand Yoplait). The production of the three plants, which amounts to 20% of Candia’s production, will be allocated to the five remaining plants. The management will propose relocation options within the group or at partner factories.
One plant will be closed by mid-2014, while the other two will close in 2013. At the same time, the group plans to create 70 positions and invest 60 million euro to modernise its production sites to increase production and exports.
Candia suffers from a prolonged lack of competitiveness, especially over the past two years due to the price war on milk and increasing raw material costs.
Updated, 26/06/2014: As announced the site in Lude will be closed by the end of June 2014 and out of its 186 total workforce, 66 have already found a new job outside the group, 8 were transferred to other Candia sites and 11 ones within group Sodiaal.
Eurofound (2012), Candia, Closure in France, factsheet number 74472, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74472.
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