ACV

Type
Internal restructuring
Country
Belgium
Region
Région wallonne; Prov. Hainaut; Arr. Soignies
Location of affected unit(s)
Seneffe
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28.2 - Manufacture of other general-purpose machinery
28.21 - Manufacture of ovens, furnaces and permanent household heating equipment
142 jobs
Number of planned job losses
Job loss
Announcement Date
6 February 2015
Employment effect (start)
Foreseen end date

Description

The Belgian manufacturer of traditional boilers / heat generators, ACV, based in Seneffe, has announced a collective dismissal of 142 employees. It is suffering from a shrinking market, increasing competition and an increased pressure on prices. Moreover, from September 2015,  new European regulation will prohibit the production/distribution of some existing types of boiler.

ACV had turnover of 100m euros in 2014, 85% of output going for export. 

Sources

  • 6 February 2015: La Dernière Heure

Citation

Eurofound (2015), ACV, Internal restructuring in Belgium, factsheet number 78605, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78605.