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.
Armatura Cluj, part of Austrian group Herz Armaturen, announced its intention to end all its sales activities and to dismiss its 200 employees. The company makes brass and iron products.
The decision was proposed in the general assembly as result of the high level of debts accumulated by the company, which reached RON 32.2 million in December 2013.
Eurofound (2014), Armatura Cluj, Closure in Romania, factsheet number 76762, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76762.