Q8 Europoort

Type
Merger/Acquisition
Country
Netherlands
Region
West-Nederland; Zuid-Holland; Groot-Rijnmond
Location of affected unit(s)
Rotterdam
Sector
Manufacturing
(19) Manufacture of coke and refined petroleum
19.2 - Manufacture of refined petroleum products and fossil fuel products
19.2 - Manufacture of refined petroleum products and fossil fuel products
100 jobs
Number of planned job losses
Job loss
Announcement Date
21 October 2015
Employment effect (start)
Foreseen end date

Description

G8 Europoort - a refinery in Rotterdam - will cease crude oil distillation after its acquisition by Gunvor Group resulting in the loss of 100 jobs. This loss accounts for almost 25% of its 350 strong workforce. The acquisition was finalised after a careful search by Kuwait Petroleum International (KPI), the refinery's current owner, the criteria of which included continuation of refinery operations. Trade unions will seek more favourable settlement packages for affected workers from KPI.

Sources

  • 21 October 2015: swissinfo
  • 9 October 2015: Portnews

Citation

Eurofound (2015), Q8 Europoort, Merger/Acquisition in Netherlands, factsheet number 85209, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85209.