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.
Swiss pump manufacturer, Sulzer Pumps, has launched employer-employee negotiations at its foundry in Karhula in Finland. The company is planning to close the foundry and negotiations concern all 175 employees in the unit. According to the company, the operations are unprofitable.
Update 14/1/2016:Following completed employer-employee negotiations on 16 December 2015 the number of redundancies has been revised down to 160 employees. The plan is to shut down the foundry by September 2016. Some members of staff will be relocated to other Sulzer departments.
Update 12/07/2016: Sulzer Pumps has signed a sales contract on the foundry with the newly founded Finnish company Karhulan Valimo on 5 July 2016. Karhulan Valimo announced that it can employ 30-50 of the foundry's 140 remaining employees. The new company will take over the business in September 2016.
Update 16/9/2016:Karhulan Valimo took over Sulzer Pumps business in the beginning of September and has employed 47 of the former Sulzer Pumps employees. In total 93 workers are made redundant by the acquisition.
Eurofound (2015), Sulzer Pumps, Merger/Acquisition in Finland, factsheet number 85111, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85111.
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