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.
Ercros, chemical product company, presented a Redundancy Procedure on the past 26th of May for its plant in Palos de la Frontera (Huelva). The measures outlined in the adjustment plan include definitive closure of the chloromethane, DCE and electrolysis plants in Palos (Huelva). This means that 123 workers from this plant will be affected. According to Ercros' announcement made today via press release sent to the National Securities Market Commission, the chemical company has presented the unions with an adjustment plan to reduce costs in about 48 million Euros a year in order to confront the drop in demand that has taken place, foreseeing definitive closure of four of its plants and a 22% reduction in staff.
Eurofound (2009), Ercros, Closure in Spain, factsheet number 69318, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69318.