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.
Magyar Alumínium Termelő és Kereskedelmi (Mal) Zrt. announced the closure its bauxite mine in Halimba, and the direct dismissal of its 200 employees.
Some of the employees will be offered employment in the company’s other units, and around 20-30 employees will go into retirement. The company started consultation with the respective trade unions about the dismissals which will begin on 11 February 2013.
After the mud disaster in 2011 Mal was not able to recover its profitable production, not even with the state subsidies received since then. Nonetheless, the company’s main reason for the mine’s closure is the significant decrease in profitable bauxite extraction at the site.
Eurofound (2013), Magyar Alumínium Termelő és Kereskedelmi (Mal), Closure in Hungary, factsheet number 74914, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74914.
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