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 textile manufacturer Tovartex, which is part of the Falke group, is to close its plant in Ovar and relocate production to Eastern European countries. According to the president of the municipality of Ovar (based on the information given by Tovartex management), this process will lead to the collective dismissal of 176 workers. Additionally, the vice president of the municipality has indicated his "openness to the elaboration of a benefit framework that would allow Tovartex to continue their business in the county." The company confirmed the collective dismissal to the media, but did not comment how many employees will be made redundant.
In July, a debate was launched in the Parliament regarding this collective dismissal. According to the Left Bloc party, the company already has announced its intention to workers and by the end of 2015 the plant in Ovar will be closed.
The company has been operating in Ovar since 1981. In 2004 it had about 700 employees. The workforce was reduced to 550 in 2011.
Eurofound (2015), Tovartex, Offshoring/Delocalisation in Portugal, factsheet number 84282, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/84282.