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 17.12 - Manufacture of paper and paperboard
220 jobs Number of planned job losses
Announcement Date
17 January 2019
Employment effect (start)
1 February 2019
Foreseen end date
31 March 2019
Description
The Nanterre Commercial Court ordered the liquidation of Arjowiggins Security, located in Jouy-sur-Morin (Seine-et-Marne), a factory specialising in the manufacture of secure paper for banknotes. The employees received the news on January 17; the police announced to the workers the closure of their plant by the end of January 2019.
The site belonged to the group Sequana that sold it to an investment fund, Blue Motion Technologies, in May 2018. The employees went on strike and denounced the decison. According to the article published by Le Parisien, the employees think that the investment fund, which obtained susbsides from Sequana, took the site over only with the aim to close it. In July 2018, the State and the local authorities inaugurated a new bridge built specifically to service the traffic to the plant, the bridge was financed for a total of €600,000 of public money.
Eurofound (2019), Arjowiggins, Closure in France, factsheet number 96493, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/96493.
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