Paroc

Type
Closure
Country
Finland
Region
Manner-Suomi; Etelä-Suomi; Etelä-Karjala
Location of affected unit(s)
Lappeenranta
Sector
Manufacturing
(22 - 23) Manufacture of rubber, plastic and non-metallic minerals
23.9 - Manufacture of abrasive products and non-metallic mineral products n.e.c.
23.99 - Manufacture of other non-metallic mineral products n.e.c.
350 jobs
Number of planned job losses
Job loss
Announcement Date
4 August 2015
Employment effect (start)
Foreseen end date

Description

Stone wool insulation company, Paroc, is to shut down its factory in Lappeenranta, Finland.

Two years ago the company announced that the factory would be shut down at the end of 2016. But Paroc is now launching employer-employee negotiations in the whole company due to weak sales. The factory in Lappeenranta could be shut down earlier than was originally announced. Paroc is seeking dismissals and temporary lay-offs in all its factories, including those in Parainen and Oulu. The negotiations concern 350 persons in total. According to Paroc's CEO Kari Lehtinen, the company has too much capacity considering the existing levels of demand.

Sources

  • 4 August 2015: Taulouselämä

Citation

Eurofound (2015), Paroc, Closure in Finland, factsheet number 84398, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84398.