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.
Flat-glass producer AGC Glass Belgium announced the closure of its plant in Roux producing solar-panel glass with the loss of 190 jobs. The decision is attributed to the need to reduce costs in Europe in order to remain competitive on the global market. AGC Roux has been recording losses of thousands of euros in the last few years due to competition from China. According to the management the plant in Roux is non-profitable and lacks future viability.
The ‘Renault procedure’ will be launched in the next few days. Unions will try to negotiate good severance pay packages, while also making efforts to keep part of the plant operational.
AGC has other plants in Seneffe, Fleurus and Lodelinsart and a research centre in Jumet. The company has implemented other restructurings in Belgium in 2013, 2012 and 2010.
Belgian Authorities applied for European Globalisation Adjustment Fund (EGF) aid on 19/08/2015.
Eurofound (2014), AGC Glass Belgium, Closure in Belgium, factsheet number 76619, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76619.
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