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.
Notura SA announced on 3rd June 2009 that they would reduce its costs by NOK 2,5 billion leading to a downsizing by 1500-2000 employees.
Nortura SA is a result of the merger between Gilde Norsk Kjøtt BA and Prior Norge BA, and is organized as a cooperative owned by approximately 28,100 farmers. The company has an annual turnover of approximately NOK 17 billion and has industrial operations in 37-39 municipalities in 15 counties in Norway with approximately 6500 employees. Nortura SA supplies some of the country's largest brands in the meat and egg sectors (e.g. Gilde and Prior).
Due to higher input costs and lower demand, Notura states in a press release on 3rd June 09 that their results so far in 2009 is NOK 60 million lower than at the same period last year. Hence the company announced that they will lower the costs by NOK 2,5 billion by 12th December 2012 in order to adjust their operations and costs to this challenging marked situation.
Notura states that it will be necessary to proceed with direct dismissals and to close some of the production facilities.
No further information is available at this time.
Eurofound (2009), Nortura, Internal restructuring in Norway, factsheet number 69038, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69038.
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