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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25.11 - Manufacture of metal structures and parts of structures
122 jobs Number of planned job losses
Announcement Date
3 January 2013
Employment effect (start)
Foreseen end date
Description
Metal manufacturer Fortaco has announced redundancies of up to 122 employees from its unit in Kurikka, Finland. It expects redundancies of up to 105 production and 17 office workers. The company cites poor profitability and market changes as reasons for the redundancies.
The company is starting negotiations with employee representatives on the proposed cuts.
Fortaco has 377 employees in Kurikka, both employed by the Fortaco group and its subsidiary Fortaco Ostrobothnia.
Fortaco was formed in late 2012 by merging parts of the Ruukki and Komas groups. The company has 2,600 employees in Europe, about one third of them in Finland. It operates as a metal industry subcontractor.
Sources
3 January 2013: Taloussanomat
Citation
Eurofound (2013), Fortaco, Merger/Acquisition in Finland, factsheet number 74726, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74726.
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