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 plant engineering company Doubvava, situated in Upper Austria, had to file for insolvency, thus making all of its 235 employees redundant. The company had liabilities for €45.6 millions.
130 among the former company's employees are to be taken over by other regional companies: The Wels-based company FMT, specialised in industrial assembly, is to take over about 60 employees, thereby setting up a new subsidiary "Doubrava Industrieanlagenbau". Up to 70 employees (among them 13 apprentices) are to be taken over by the Attnang-based Inocon Technologie company. Inocon also takes over Doubrava's means of production.
Eurofound (2013), Doubrava, Bankruptcy in Austria, factsheet number 75812, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75812.