Brief: Crystal International To Increase Pace Of Program Of Reallocation Of Capacity From PRC To Non-PRC Bases

Crystal International

12/06/2019 12:57

June 12 (Reuters) - Crystal International Group Ltd
 2232.HK :
    * COMPANY HAS RECENTLY CONCLUDED ITS REVIEW OF ITS
MULTI-COUNTRY
PRODUCTION PLATFORM
    * DECIDED TO INCREASE PACE OF PROGRAM OF REALLOCATION OF
CAPACITY
FROM PRC TO NON-PRC PRODUCTION BASES
    * PLANS TO INCREASE ITS PRODUCTION CAPACITY IN ITS NON-PRC
PRODUCTION BASES, PARTICULARLY VIETNAM
    * GROUP'S DENIM DIVISION WILL BE MOST AFFECTED BECAUSE ITS
PRODUCTION HAS BEEN CONCENTRATED IN PRC
    * PLANS TO CONTINUE REDUCE PRODUCTION CAPACITY IN PRC,
EXPECTED TO
RESULT IN ONE-OFF COSTS OF ABOUT US$14 MILLION IN FIRST HALF
2019
    * FOLLOWING REALLOCATION , EXPECTS REVENUE FROM PRC
PRODUCTION
BASE TO US MARKET WILL DECREASE TO 6% IN SECOND HALF OF 2019

Source text for Eikon:  ID:nHKS694NCY 
Further company coverage:  2232.HK 

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