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.
Solvay, an international chemical and pharmaceutical group, has announced that it is to cut 100 jobs at its plant located at Porto Marghera, in the province of Venice. 156 are employed at the site in Porto Marghera. The company attributes the decision to reduce its workforce to rising operative costs and increasing uncertainty as to the realisation of the industrial policy plan for the re-launch of the Porto Marghera industrial area. In this situation of uncertainty, several chemical companies which operate in the Porto Marghera area – such as Dow Chemical, Montefibre, Ineos and Polimeri Europa - have stopped their investment’s plans announced for the Italian plants. Sectoral trade unions have reacted to this situation of uncertainty by announcing a one-day strike in the Italian chemical sector and organising a protest demonstration in Rome. The trade unions aim to put pressure on the Government in order to accelerate the approval of adequate measures for the re-launch of the Italian chemical sector.
The Porto Marghera industrial district is the largest Italian petrochemical producing zone and has a strategic position in terms of integration between petrochemical companies. A series of pipelines link the companies located in the Porto Marghera area to several industrial sites in Italy and Europe. Solvay operates 400 units in over 50 countries and employs approximately 29,000.
Eurofound (2007), Solvay Italia, Internal restructuring in Italy, factsheet number 66090, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66090.
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