Brief: Alimak Group Closes One Assembly Plant In China For Wind Tower Internals

Alimak AB (publ)

05/12/2019 09:03

Dec 5 (Reuters) - Alimak Group AB (publ)  ALIG.ST :
    * ALIMAK GROUP CLOSES ONE ASSEMBLY PLANT IN CHINA FOR WIND
TOWER
INTERNALS
    * DECISION TO CLOSE DOWN AVANTI'S ASSEMBLY PLANT IN TIANJIN,
CHINA.
    * DECISION WILL IMPLY RESTRUCTURING COSTS OF AROUND MSEK 17
WHICH
WILL BE TAKEN IN Q4 2019 AS A NON-RECURRING ITEM.
    * LAST DAY OF OPERATION WILL BE AT END OF DECEMBER 2019
    * DECISION WILL AFFECT 48 EMPLOYEES IN TIANJIN. AVANTI'S
SHANGHAI
PLANT IS NOT AFFECTED BY DECISION.
    * AVANTI'S SHANGHAI PLANT IS NOT AFFECTED BY DECISION.

Source text for Eikon:  ID:nWkr9XYqCV 
Further company coverage:  ALIG.ST 

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