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.
Lhoist, a Belgian limestone mining company, and one of the main players in the industry on a global scale, has announced it will dismiss 117 of its 740 Belgian employees across 3 of its Belgian facilities. The main reasons behind the restructuring efforts are a decline in demand from steel and specialised brick producers, that use lime and dolomite in their production processes. Additionally the company has a running conflict with the monks of the nearby abbey of Rochefort that use local water sources for their beer production, and are opposed to further expansion of the local quarry. In addition to the job cuts, the management has announced it will invest a further €90 million to specialise more in the mining of dolomite.
Eurofound (2019), Lhoist, Internal restructuring in Belgium, factsheet number 98591, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98591.