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 31 May 2013, the Commercial Court of Macon has decided the takeover of Oxxo, a French manufacturer of PVC door and window frames, by the Algerian group Cevital. The buyer is to retain 288 of the 412 employees but will dismiss 124 and invest 12 million euros to continue the modernization of the plant and also start the production of aluminum joinery and shutters in the next two years.
The employees tried to create a cooperative to take over the site, but they failed to obtain enough funds to convince the court. Oxxo was placed into receivership since last February.
Eurofound (2013), Oxxo, Merger/Acquisition in France, factsheet number 75496, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75496.