Brief: Cloetta Plans To Invest In A New Sustainable Greenfield Facility In The Netherlands To Enable Growth And Accelerate Margin Expansion

Cloetta AB

09/05/2022 17:46

May 9 (Reuters) - Cloetta AB  CLOEb.ST :
    * CLOETTA PLANS TO INVEST IN A NEW SUSTAINABLE GREENFIELD
FACILITY
IN THE NETHERLANDS TO ENABLE GROWTH AND ACCELERATE MARGIN
EXPANSION
    * NEW FACILITY IS EXPECTED TO BE FULLY OPERATIONAL IN 2026
    * CHANGE WOULD GENERATE ADDITIONAL ANNUAL EBIT IN RANGE OF
SEK 160
TO 180 MILLION
    * CLOETTA-INVESTMENT WOULD INCUR TOTAL NON-RECURRING NET
COST OF
UP TO SEK 100 MILLION AND CAPITAL EXPENDITURES OF ABOUT SEK 2.5
BILLION OVER COMING FOUR YEARS
    * CLOETTA IS ANNOUNCING INTENTION TO CLOSE THREE
CONFECTIONERY
FACTORIES IN TURNHOUT, BELGIUM, AND ROOSENDAAL, NETHERLANDS
    * ABOUT 350 EMPLOYEES IN BELGIUM AND NETHERLANDS WOULD BE
AFFECTED
BY PROPOSED INITIATIVE

Source text for Eikon:  ID:nWkr1mYhDr 
Further company coverage:  CLOEb.ST 

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