CEIT

Type
Merger/Acquisition
Country
France
Region
Nouvelle-Aquitaine; Poitou-Charentes;
Location of affected unit(s)
Loudun, Rorthais
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
30.2 - Manufacture of railway locomotives and rolling stock
30.2 - Manufacture of railway locomotives and rolling stock
131 jobs
Number of planned job losses
Job loss
Announcement Date
25 July 2014
Employment effect (start)
1 August 2014
Foreseen end date
31 October 2014

Description

The Commercial court of Poitiers (Vienne) has agreed the take over of the railways material supplier CEIT by the group Barat. The new owner will keep 83 employees and will cut 131 jobs. CEIT was placed in receirvership since April 2014.

As reporetd, the union CGT explained that the take over is the consequence of decisions taken by the group Alstom that prefers to work with suppliers in countries with lower salary costs.

Sources

  • 25 July 2014: Le Figaro

Citation

Eurofound (2014), CEIT, Merger/Acquisition in France, factsheet number 77429, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77429.