Brief: Bergs's Subsidiary Bitus Concentrates Production On Fewer Units

Bergs Timber AB (publ)

15/09/2022 13:56

Sept 15 (Reuters) - Bergs Timber AB (publ)  BRGb.ST :
    * SUBSIDIARY BITUS CONCENTRATES PRODUCTION ON FEWER UNITS
    * BOARD OF BITUS AB, A SUBSIDIARY OF BERGS, HAS DECIDED TO
INITIATE NEGOTIATIONS WITH UNIONS TO CONCENTRATE PRODUCTION TO
UNITS IN NYBRO AND FÅGELFORS
    * NEGOTIATIONS HAVE BEEN INITIATED WITH THOSE CONCERNED AND
AMBITION IS FOR CLOSURE TO BE COMPLETED BY BEGINNING OF 2023
    * THIS MEANS THAT PRODUCTION IN BROAKULLA, IN EMMABODA
MUNICIPALITY, WILL BE DISCONTINUED AND 12 EMPLOYEES WILL BE
AFFECTED
    * COSTS RELATED TO CLOSURE WILL ONLY HAVE A MARGINAL IMPACT
ON
GROUP'S RESULTS
    * CASH FLOW WILL BE POSITIVELY AFFECTED BY REDUCTION OF
WORKING
CAPITAL

Source text for Eikon:  ID:nWkrJN5Ml 
Further company coverage:  BRGb.ST 

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