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.
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.
Eurofound (2019), Parma, Closure in Finland, factsheet number 99453, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99453.