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.
Dutch Friesland Foods decided definitely to close its milk factory in Slovakia. According to the representatives of the company's management, the reason for closing is the unsatisfactory position of the Friesland Foods in the local food market. In order to keep the milk production there, Friesland Foods management seeks to sell the factory to some entrepreneurs. If it succeeds in selling the milk factory, around 140 jobs can be saved there. If not, all the 300 employees should be dismissed. On 3 January 2007 it was announced that Friesland succeeded in selling the company to Tatranská mliekáreň in Kežmarok. The new owner intends to strengthen its position in the market. As a result, some jobs in Nitra Milk factory will be saved. The Milk factory has been definitely taken over by Tatranská mliekáreň and 161 jobs are saved. However, the rest of the employees will be dismissed.
Eurofound (2006), Friesland Foods Slovakia, Merger/Acquisition in Slovakia, factsheet number 64599, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64599.