Brief: Apogee Announces Strategic Actions To Reduce Costs And Strengthen The Company’s Position For Profitable Growth

Apogee Enterprises

30/01/2024 22:16

Jan 30 (Reuters) - Apogee Enterprises Inc  APOG.O :
    * APOGEE ENTERPRISES ANNOUNCES STRATEGIC ACTIONS TO REDUCE
COSTS
AND STRENGTHEN THE COMPANY’S POSITION FOR PROFITABLE GROWTH
    * APOGEE ENTERPRISES INC - ACTIONS ANNOUNCED TODAY ARE
EXPECTED TO
LEAD TO ANNUALIZED COST SAVINGS OF $12 MILLION TO $14 MILLION
    * APOGEE ENTERPRISES INC: ELIMINATING CERTAIN LOWER-MARGIN
PRODUCT
AND SERVICE OFFERINGS
    * APOGEE ENTERPRISES INC - WILL IMPLEMENT ACTIONS TO
OPTIMIZE
PROCESSES AND STREAMLINE RESOURCES IN ITS ARCHITECTURAL SERVICES
AND CORPORATE SEGMENTS
    * APOGEE ENTERPRISES INC: REDUCE COMPANY'S WORKFORCE BY
APPROXIMATELY 250 EMPLOYEES
    * APOGEE ENTERPRISES INC - ACTION TO REDUCE COMPANY'S
WORKFORCE BY
APPROXIMATELY 250 EMPLOYEES
    * APOGEE ENTERPRISES INC - EXPECTS APPROXIMATELY 60% OF
SAVINGS TO
BE REALIZED IN FISCAL 2025 AND REMAINDER IN FISCAL 2026
    * APOGEE ENTERPRISES: TRANSFERRING PRODUCTION OPERATIONS
FROM
FACILITY IN WALKER, MICHIGAN, TO FACILITIES IN MONETT, MISSOURI
AND WAUSAU, WISCONSIN
    * APOGEE ENTERPRISES INC: EXPECTS TO INCUR ABOUT $16 MILLION
TO
$18 MILLION OF PRE-TAX CHARGES IN CONNECTION WITH PROJECT
FORTIFY

Source text for Eikon:  ID:nBw7NTwZ9a 
Further company coverage:  APOG.O 

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