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.
Last month a fire started in the Mexican tortilla factory of Mission Foods in Roermond which burned almost the entire production plant. Mission Foods will not rebuild the factory and as a result 133 people will be dismissed. The decision to not rebuild the factory has to do with the high cost, around €50 million, which Mission Foods is not willing to invest in a new Dutch factory. The production will be reallocated to England, Spain and Russia. The news was announced to employees earlier this week. Employees in the sales and marketing departments will retain their jobs.
The factory was bought in 2004 by Mission Food which is a subsidiary of the Mexican multinational Gruma. In 2018 Gruma Netherlands suffered a loss of €364,000 on a total revenue of around €25 million.
Eurofound (2020), Mission Foods, Offshoring/Delocalisation in Netherlands, factsheet number 99736, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99736.
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