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 Wood And Paper Materials Manufacture Of Paper And Paper Products 17.21 - Manufacture of corrugated paper and paperboard and of containers of paper and paperboard
150 jobs Number of planned job losses
Announcement Date
27 July 2017
Employment effect (start)
Foreseen end date
31 December 2017
Description
Packaging company Essentra has announced plans to close its operations in Newport. The decision comes after the company reported losses, despite receiving financial support from the Welsh Government. Management argued that it did not expect profitability to improve. The business, which primarily makes gift boxes for the retail sector, employs 150 people at the site. The statutory consultation period is reported to be underway, with closure scheduled for the end of 2017. The decision does not affect the company's other site in the city which manufactures labels.
Sources
27 July 2017: BBC Website
Citation
Eurofound (2017), Essentra, Closure in United Kingdom, factsheet number 91686, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91686.
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