Tessenderlo Group intends to close PB Leiner Vilvoorde site
- Tessenderlo Group intends to close its PB Leiner production site in Vilvoorde, Belgium.
- A thorough strategic review found no feasible solution to sustain the site's operations on a viable and profitable basis.
- The company examined structural alternatives, including a process to identify a potential acquirer, without finding a viable outcome.
- Tessenderlo has initiated the information and consultation process with employee representatives under applicable Belgian law.
Decision
Tessenderlo Group announced its intention to close the PB Leiner production site in Vilvoorde, Belgium after concluding that the site's long-term operational and economic viability could not be sustained.
Alternatives reviewed
The company carried out a thorough strategic review and examined various structural alternatives, including a process to identify a potential acquirer, and concluded that no feasible solution exists to sustain operations on a viable and profitable basis.
Consultation process
Tessenderlo Group has formally initiated the information and consultation process with employee representatives in accordance with applicable Belgian legislation and says it will conduct the process transparently, respectfully and constructively.
Stakeholder impact
The company expressed regret for the uncertainty this announcement may create for employees, their families, suppliers, customers and the local community.
Source: Tessenderlo
