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.
Pharmaceutical manufacturer, Ranbaxy, is to close its plant in Cashel, Co Tipperary, with the expected loss of 100 jobs. The plant was acquired by Sun Pharma last year, and talks on the future of the plant got underway shortly after. It was announced on March 31 that the plant is to close by the end of 2016. Ranbaxy employ 100 people at the plant. The company said there is the possibility of laboratory workers moving to other Sun Pharma locations. The Cashel plant was first opened in 1984.
Unite the union, which represents 70 of the workers, said it was disappointed with the decision to close the plant but that it "will be engaging with management to secure the best terms for our members, who have given long and dedicated service to the company."
Eurofound (2016), Ranbaxy, Closure in Ireland, factsheet number 86891, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86891.