Brief: Hyzon Motors Says It Determined To Wind Down Its Operations In The Netherlands And Australia

Hyzon Motors

08/07/2024 11:42

July 8 (Reuters) - Hyzon Motors Inc  HYZN.O :
    * HYZON MOTORS INC - DETERMINED ON JULY 7, 2024, TO WIND
DOWN ITS
OPERATIONS IN THE NETHERLANDS AND AUSTRALIA.
    * HYZON MOTORS INC: EXPECTS TO COMPLETE WIND DOWN OF
OPERATIONS IN
NETHERLANDS & AUSTRALIA BY END OF 2024
    * HYZON MOTORS INC: IN CONNECTION WITH PLANNED EXIT
ACTIVITIES,
SEES TO INCUR CHARGES OF ABOUT $17 MILLION
    * HYZON MOTORS - CONTINUES TO PURSUE PREVIOUSLY DISCLOSED
EFFORTS
TO SECURE CAPITAL VIA CAPITAL MARKETS AND EXPLORE VARIOUS OTHER
STRATEGIC ALTERNATIVES
    * HYZON MOTORS-ALTERNATIVES INCLUDE A SALE OF ALL OR PORTION
OF
COMPANY, DIVESTITURE OF ITS EUROPE AND AUSTRALIA/NEW ZEALAND
BUSINESSES AND SUBSIDIARIES
    * HYZON MOTORS INC - ALTERNATIVES INCLUDE COST REDUCTIONS,
LIQUIDITY MANAGEMENT, A REDUCTION IN WORKFORCE AND OTHER
SIGNIFICANT CORPORATE TRANSACTIONS
    * HYZON MOTORS INC - EVALUATING NEED TO PURSUE BANKRUPTCY
PROTECTION OR OTHER IN-COURT RELIEF IF FINANCING EFFORTS OR
OTHER ALTERNATIVES NOT SUCCESSFUL

Source text for Eikon:  ID:n0001716583-24-000078 
Further company coverage:  HYZN.O 

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