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.
Ruukki Romania announced plans to close its Bolintin-Deal plant this winter and cut 110 jobs. The restructuring is linked with a large job reduction plan after the merger of Swedish steel producer SSAB and Finnish steel producer Rautaruukkis.
Ruukki Romania, subsidiary of the newly created division Ruuki Construction, has 3 plants in Bolintin-Deal (Giurgiu County), Tunari (Ilfov County) and Racaciuni (BacauCounty). The company plans to transfer the civil construction business sector, mainly extension of roofing production, to Tunari and Racaciuni plants.
The closure of the Bolintin-Deal plant comes as a result of an internal restructuring process and will result in 110 job cuts and 50 relocations to the Tunari plant. Affected employees will be offered severance packages amounting to six months wages.
Eurofound (2014), Ruukki Romania, Merger/Acquisition in Romania, factsheet number 77705, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77705.