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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25.1 - Manufacture of structural metal products
101 jobs Number of planned job losses
Announcement Date
5 October 2016
Employment effect (start)
Foreseen end date
Description
AIC Steel has entered administration with the loss of 101 jobs. The company, which operates out of Newport in Wales, specialises in large-scale steel fabricated structures used in sports stadia, for example. The company had been set up in 2013 to take over another steel company, Rowecord Engineering, which had also entered administration at the time. Presently 29 staff remain at the company, while administrators assess whether trading can continue. In general, the steel industry has contracted substantially over recent years.
Sources
5 October 2016: BBC Website
Citation
Eurofound (2016), AIC Steel, Internal restructuring in United Kingdom, factsheet number 88893, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88893.
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