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.
Comital-Saiag is among the leading European manufacturers of aluminium foil intended mainly for the packaging of foods and it is established as the Italian leader in the production and distribution of this kind of consumer products, especially with the Cuki, Domopak and Tonkita brands.
The company employs 900 people in Italy (mainly in the two plants located in Latina - in the centre of Italy - and in Volpiano, in the province of Turin) and around 2,000 people across the world.
In October 2006, Management&Capitali, a fund created by private employers in order to support Italian companies facing financial crisis, acquired Comital-Saiag and replaced the company top management.
On 9 May 2007 the company and the trade unions reached an agreement which envisages the reduction of the redundancies included in the previous company’s reorganisation plan from 180 to 38 workers. Of the workers involved in the new reorganisation plan, ten will benefit of economic incentives to support their incomes during spells of unemployment, with a view to find a new job, while 28 redundant workers will benefit of the ‘special’ Wages Guarantee Fund (Cassa integrazione guadagni straordinaria, Cigs), a ‘social shock absorber’ that intervenes in cases of restructuring, reorganisation, change of activity or economic difficulties. The Wages Guarantee Fund scheme will last for one year. This measure should allow the social partners to elaborate adequate initiatives for the outplacement and redeployment of potential redundant personnel.
Eurofound (2006), Comital-Saiag, Internal restructuring in Italy, factsheet number 64751, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64751.
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