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.
MDF, producer of panels, is to close down its production site in Hallein, thus making all of its 111 employees redundant by the end of March 2014.
According to the sources, the closure is due to high competition with cheap suppliers and high commodity prices. In addition, the company's main market in Italy has shown decreases in orders by 40pc since 2009.
Negotiations are to take place next week. According to the management, an extensive social plan for the employees is to be negotiated and some staff might be offered to switch to other subsidiaries of the Binderholz group.
MDF is a subsidiary of Binderholz group.
Eurofound (2014), MDF, Closure in Austria, factsheet number 76443, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76443.