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 pharmaceutical company Eli Lilly has confirmed it will close its Hampshire manufacturing plant.
In June, Eli Lilly said it planned to close the factory unless an alternative drugs firm could take over the Basingstoke site and its 555 employees.
No buyer was found and manufacturing will stop at the end of 2007.
Company directors have said the cuts have been made due to "over capacity" and they hope to relocate some employees to other UK sites.
The company had carried out employee consultation on the closure and has said about 100 employees will be eligible for retirement.
US-based Eli Lilly manufactures medicines including Prozac, a treatment for clinical depression and Cialis, a treatment for erectile dysfunction.
Eurofound (2006), Eli Lilly, Closure in United Kingdom, factsheet number 64678, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64678.