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.
The management of Amcor Flexibles, a subsidiary of the Australian packaging producer, announced to its Central works council the closure of its facility in Argentan (Orne). The entire workforce of 86 employees is facing dismissal. The background to the closure is the fact that the firm failed to be profitable for the last couple of years, in its activities of cheese and meat packaging. The company has six other plants in France and employs about 402 employees.
Local authorities highlight the lack of consultation and anticipation from the management. They add that the plant has received up to €14 million of public financial support since 2004. Amcor bought the plant in 2001. They ask the company to find a takeover solution for the plant in the framework of the "Florange law" which makes compulsory for employers to seek a takeover when they want to close a production site. Amcor employs 31,000 people worldwide for a global turnover of €8.9 billions. The employer will negotiate an Employment safeguard plan until 9 May 2017.
Eurofound (2017), Amcor Flexible France, Closure in France, factsheet number 90276, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90276.