Type
Closure
Country
Romania
Region
Nord-Vest; Cluj;
Location of affected unit(s)
Cluj Napoca
Sector
Manufacturing
Manufacturing Of Machinery And Equipment
Manufacture Of Machinery And Equipment N.E.C.
28.14 - Manufacture of other taps and valves

200 jobs
Number of planned job losses
Job loss
Announcement Date
26 March 2014
Employment effect (start)
26 March 2014
Foreseen end date
31 December 2014

Description

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.


Sources

  • 27 March 2014: Ziarul Financiar

Citation

Eurofound (2014), Armatura Cluj, Closure in Romania, factsheet number 76762, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76762.