|
You are here: Eurofound > EMCC > European Restructuring Monitor My Eurofound: Login or Sign Up   

Fact Sheet Details

Back to factsheets

Company: Hyosung Luxembourg
Geographic location
- Country:
Luxembourg
- Region:
Luxembourg (Grand-Duché)
- Location of affected unit(s):
Colmar-Berg
Company
- Group :
- Sector :
Manufacturing: Manufacture of textiles, apparel, leather and related products, 13.9
- Number employed:
302
Employment effects
- Announcement Date:
13-02-2008
- Planned job reductions:
79
- Type of restructuring:
Offshoring/Delocalisation
- New Location:
other Asian countries
- Employment effect start:
- Foreseen end date:
- Direct dismissals:
79
- Other job reduction measures:
- Planned job creation:
Additional information

Hyosung Luxembourg, producer of fibres for tyre manufacturing based at Colmar-Berg, announced on 13th February 2008 that the balance sheet for 2007 showed substantial losses and that similar losses were forecast for 2008 and therefore 79 jobs would be cut due to the transfer to South Korea of some of its activities (twisting and weaving of polyester fibre). It also said that production volume would be reduced by around 800 tonnes per month. The restructuring will be the subject of a job retention plan to avoid drastic redundancies.

Sources
Links

Back to factsheets

Page last updated: 19 March, 2009