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 Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23.61 - Manufacture of concrete products for construction purposes
143 - 157 jobs Number of planned job losses
Announcement Date
9 December 2019
Employment effect (start)
Foreseen end date
31 January 2020
Description
Parma, a Finnish manufacturer of precast concrete, announced the shutdown of its production plants in Kangasala and Rusko, causing 156 redundancies by the end of January 2020. The decision will affect 45 blue-collar workers in Rusko and 98 blue-collar workers in Kangasala. In addition to these dismissals, the company announced a further reduction of 14 administrative positions. There is no concrete information for the latter measure.
According to the management, the decreasing demand for precast concrete and other products manufactured by the company has impacted its profitability. The company estimates that cement demand will continue decreasing in the upcoming years and that the construction market growth will slow down. The management aims to support the affected workers by offering alternative occupations at other production plants, owned by the company.
Parma is part of the international Consolis Group.
9 December 2019: Parma Oy - press release (parma.fi)
17 December 2019: Parma Oy - press release (parma.fi)
Citation
Eurofound (2019), Parma, Internal restructuring in Finland, factsheet number 99453, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99453.
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