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.
Safran is a French aeronautic company that works in the aviation sector. Safran builds and maintains components of aircrafts. Partnering with AirFrance - KLM, Safran is creating a joint venture which aims to backshore the mantainance of aircraft components from Singapore to France. Safran will hold 51% of the partnership, and Air France-KLM will hold 49%. Total forcasted investment is as much as €20 million ($22.45 million). A factory specialised in the maintenance of plane engines will open in Saint-Amand-les-eaux, near Valenciennes. 200 jobs are expected to be created, with 60 safeguarded until 2017. Both companies are partially owned by the French State, which, according to the source, has played a key role in the decision to backshore. The new French plant will specialise in the maintenance of a specific airplane engine (the CFM56 engine), which is currently the best-selling plane engine in the world. Safran is simultaneously expanding its investments in Singapore, and Safran reported that helicopter production and maintainance will remain there.
Eurofound (2016), Safran , Reshoring in France, factsheet number 192, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/192.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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