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 Mikkeli-based Anaika Group, which designs and manufactures equipment for the mechanical forest industry, has announced that it is to create 100 new jobs with the development of a larger factory for the production of glued laminated wood beams. The company will use the facility currently being vacated by Stora Enso, which recently announced that it was closing down its pulp production. The factory will be operational in the summer 2009.
The government has also agreed to provide assistance for the creation of new jobs in Finnish Lapland and the Kymenlaakso area in the southeast, which has been hit by massive shutdowns in the pulp and paper industry. Minister of Economic Affairs Mauri Pekkarinen (Centre) says that the state could provide between 30 and 35 % of the total costs of the project. Minister of Labour Tarja Cronberg (Green) says that the total amount of support remains open, and has no final sum attached to it.
Pekkarinen said on Friday that more measures would be announced in the coming weeks to promote employment in the affected areas. The government believes that the state support, and the projects announced on Friday will save half of the 200 jobs there are being lost through the closure of the Stora Enso pulp mill in Kemijärvi.
Stora Enso said that it will sell part of the Kemijärvi factory to Anaika at a competitive price. Anaika will then build an engineering works and laminated timber factory on its own. Stora Enso has also offered Anaika a capital loan of EUR 7 million. Anaika Group currently employs some 50 employees.
Eurofound (2008), Anaika Group, Business expansion in Finland, factsheet number 66241, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66241.
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