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.
Vesuvius Italia, a local subsidiary of ferrous metal manufacturer Vesuvius, announced the dismissal of 195 workers and the closure of the plants in Assemini and Avezzano by the end of 2016. The company attributed the decision to overcapacity due to negative market trends and global decline in steel production.
Apart from the workforce employed in Assemini (105) and in Avezzano (95), the closure is expected to affect about 200 workers employed in ancilliary companies.
Unions have criticised the decision and pointed out that investments have recently been made to increase the production capacity of the Czech plant. Assemblies will be held over the next days to decide industrial actions.
Update, 15 December 2016: Negotiations ended with 105 dismissals in Avezzano and 76 in Assemini. The company confirmed the closure of the plants but declared its availability to sell them in order to ease the relocation of redundant workers. Yet, it excluded the possibility to negotiate a transfer to competitors.
Eurofound (2016), Vesuvius Italia, Closure in Italy, factsheet number 88605, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88605.
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