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 metals Manufacture of fabricated metal products, except machinery and equipment 25 - Manufacture of fabricated metal products, except machinery and equipment
120 jobs Number of planned job losses
Announcement Date
21 May 2025
Employment effect (start)
Foreseen end date
31 December 2025
Description
Kovosvit MAS Foundry, located in the city of Sezimovo Ústí, has announced the closure of operations and layoffs of 120 workers in the near future due to the poor financial situation.
The main reasons are the loss of a key foreign customer, a mandatory increase in advance payments for energy, and, generally, poor conditions in the industry. The business of the entire group deteriorated dramatically after the start of the war in Ukraine, when the engineering division was unable to reorient itself towards Western markets and the company had to face pressure due to its ties to Russian capital.
Kovosvit MAS has three sister companies – the Foundry, the Machine Tools and the Management company focused on administrative support for the group. The latter two companies are already insolvent.
Eurofound (2025), Kovosvit MAS Foundry, Closure in Czechia, factsheet number 202796, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202796.
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