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.
AnsaldoBreda, an Italy-based rail transport engineering company, has announced the liquidation of its plant in Cannes and the dismissal of 125 employees. The plant is specialized in the renovation of railway equipment. The French branch will be liquidated in mid-March.
The liquidation follows a judicial dispute between the Parisian railway passenger company RATP and AnsaldoBreda. The RATP signed a contract with AnsaldoBreda in 2003 for the renovation of the metro trams lines 13 with an option for the 126 reams of the lines 7 and 8. However, RATP had decided not to extend AnsaldoBreda's contract due to delays and lack of quality. Awaiting the court decision, the commercial court placed the company into receivership in September 2011.
Public authorities, the mayor of Cannes and the employees' representatives will hold a meeting on 9 March to find an industrial solution to keep the site, or if no solutions are available to help the workers finding a new job.
Eurofound (2012), AnsaldoBreda, Bankruptcy in France, factsheet number 73226, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73226.
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