Brief: Adtran Holdings To Close Company's Facility In Greifswald, Germany Within Next Three Months

Adtran Holdings

17/04/2024 22:53

April 17 (Reuters) - ADTRAN Holdings Inc  ADTN.O :
    * ADTRAN HOLDINGS INC - DETERMINED ON APRIL 11, 2024 TO
CLOSE
COMPANY'S FACILITY IN GREIFSWALD, GERMANY WITHIN NEXT THREE
MONTHS
    * ADTRAN HOLDINGS INC - EXPECTS TO INCUR TOTAL COSTS RANGING
FROM
APPROXIMATELY $13.5 MILLION TO $18.4 MILLION IN CONNECTION WITH
CLOSURE OF FACILITY
    * ADTRAN HOLDINGS INC - EXPECTS THE CHARGES TO BE FULLY
INCURRED
IN FISCAL YEAR 2024 WITH CASH PAYMENTS EXPECTED TO SPAN INTO
2025
    * ADTRAN HOLDINGS INC - CLOSURE OF FACILITY WILL BE
SUBSTANTIALLY
COMPLETED BY JUNE 30, 2024
    * ADTRAN HOLDINGS INC - DOES NOT CURRENTLY ANTICIPATE
INCURRING
OTHER CHARGES OR CASH EXPENDITURES ASSOCIATED WITH CLOSURE OF
FACILITY

Source text for Eikon: [ID:https://bitly.ws/3idIu]
Further company coverage:  ADTN.O 

 ((Reuters.Briefs@thomsonreuters.com;))