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.
Car components manufacturing company Antolin announced the closure of its site in Rastatt. The decision is expected to affect at least 200 employees, who will lose their jobs by the end of 2019. The social plan stipulates that redundant employees may choose to work for a transfer agency to get retraining. The remaining 50 employees continue to stay on site for its final clearance. The decision to close the site derives from the company's main buyer Mercedes-Benz handing out more orders to other suppliers in Hungary.
The company was bought by Grupo Antolin from Magna in 2015, along with other manufacturing plants. At that time, the site in Rastatt had a workforce of 400 employees.
Eurofound (2019), Antolin, Closure in Germany, factsheet number 98761, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98761.