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 longstanding Austrian manufacturer of fruit juices Pago is to close down its plant in Klagenfurt, thus making all 110 employees redundant by the end of 2013.
Pago is part of the German fruit juice group Eckes-Granini, which bought Pago in December 2012 from the Heineken-Brau Union group. Eckes-Granini now announced the closure of the Pago headquarters and production in Klagenfurt.
The group's CEO Hinderer stated that the step was necessary - production in Klagenfurt has not been profitable for years. However, the company is to remain headquartered in Austria: The headquarters of Pago will move to the Austrian Eckes-Granini headquarters in St Florian (Upper Austria).
The employees were informed of the unexpected step in a works council meeting on 18 February 2013. A social plan is to be developed for all 110 employees which stand to lose their jobs.
Eurofound (2013), Pago, Closure in Austria, factsheet number 74970, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74970.