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.
Goldoni, a manufacturer of tractors, is to dismiss up to 60 workers in its site of Carpi (Modena) by the end of 2017.
The company has endured a long period of crisis, culminated with the opening of a pre-bankruptcy procedure of composition with creditors last June before the Modena court, the interruption of productive activities, and the activation of Wages Guarantee Funds for its 270 employees.
During the last months, meetings were held with potential investors in order to rescue the productive site and save the jobs.
On the 20 November, an agreement was reached with a Lovol Arbos Group, Italian subsidiary of the leading equipment manufacturer group Lovol International Heavy Industry. According to the agreement, the Lovol Arbos Group will take over the company and hire back most of the 270 employees. However, a maximum number of 60 incentivised voluntary dismissals should take place in 2016 and 2017 (mainly by means of subsidised early retirements).
The agreement is expected to come into effect by the end of the year, after the vote of workers and the final decisions of creditors and the Modena court.
Eurofound (2015), Goldoni, Merger/Acquisition in Italy, factsheet number 85498, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85498.
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