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Case Study

Restructuring of a pharmaceutical contract manufacturer in Italy

The Atreus Manager achieved a debt reduction of 50 percent, increased sales by 25 million euros through renegotiations with the client and was taken on in a permanent position after six months.


Company details

  • Pharma Contract Manufacturer in Italy
  • 550 employees to generate sales of 85 million Euro

Situation and Challenge

  • Decline in turnover to 55 million Euro, restructuring necessary
  • No substantial restructuring plan in place
  • Previous negotiations with Italian unions without agreement
  • Private equity shareholders dissatisfied
  • Unmotivated team, poor local management

Objectives and tasks

  • Managing the plant
  • Return to profitability
  • Increasing transparency for investors

Measures and procedure

  • Drawing up a redundancy procedure for 190 employees under the umbrella of a reorganisation procedure.
  • Negotiations with 5 trade unions and the Ministry of Labour
  • Negotiations with key suppliers and customers

Results and success

  • Personnel costs reduced by 13 per cent
  • Green light for the dismissal of 150 employees and outsourcing project for another 35
  • 30 million Euro debt cut with suppliers (i.e. 50 per cent)
  • 25 million Euro increase in turnover through price and volume increases
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The Atreus Combined Model

An integrated offer of Interim Management and Executive Search offers tangible advantages.