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.
Márkushegy Mine, operated by Vértes Power is to close by the end of 2014. The closure of the coal mine is to affect 525 permanent and 150 temporary jobs. As reported, the European Commission has already authorised HUF 42,247 million (approximately €140 million) of public funding for the closure of the uncompetitive coal mine in order to mitigate the social and environmental impact.
The coal mine has terminated the contract of 240 miners from Transylvania in 2009; before the rectructuring, 1400 miners were employed.
Eurofound (2014), Vértesi Erőmű, Closure in Hungary, factsheet number 77004, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77004.