Brief: Cosmos Machinery says loss of manufacturing segment to rise in 2016, 300 jobs to be affected

Cosmos Machinery Enterprises

23/12/2016 14:46

Dec 23 (Reuters) - Cosmos Machinery Enterprises Ltd 
 0118.HK  
    * Group planning to restructure certain operations of 
machinery manufacturing business segment 
    * Expected that not more than 300 job positions will be 
affected 
    * Board expects that this strategic plan will be completed 
by Q2 of 2017 
    * Board considers that it will not have material adverse 
impact to overall operation of group 
    * "Group observes improvement in sales momentum in PRC 
market" 
    * Operating loss of machinery manufacturing business segment 
of group will increase significantly in 2016 
 
Source text for Eikon:  ID:nHKS4K6W3x  
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