Brief: Ichor Holdings Ltd Says On June 23, Co Announced Closure Of Manufacturing Facility In Union City, California

Ichor Holdings

25/06/2020 13:11

June 25 (Reuters) - Ichor Holdings Ltd  ICHR.O :
    * ICHOR HOLDINGS LTD SAYS ON JUNE 23, CO ANNOUNCED CLOSURE
OF
MANUFACTURING FACILITY IN UNION CITY, CALIFORNIA
    * ICHOR HOLDINGS - CLOSURE OF CALIFORNIA FACILITY RESULT OF
RESTRUCTURING OF PLASTICS BUSINESS IN ORDER TO STREAMLINE
OPERATIONS, IMPROVE ASSET UTILIZATION
    * ICHOR HOLDINGS - NOTIFIED EMPLOYEES AT CALIFORNIA FACILITY
OF
CLOSURE ON JUNE 23, ABOUT 80 EMPLOYEES WILL BE IMPACTED BY
CLOSURE - SEC FILING
    * ICHOR HOLDINGS SAYS EXPECTS TO SUBSTANTIALLY COMPLETE
CLOSURE OF
CALIFORNIA FACILITY BY END OF 2020 FISCAL YEAR
    * ICHOR HOLDINGS - AS RESULT OF CLOSURE, COSTS WILL RESULT
IN CASH
EXPENDITURES ABOUT $0.9 MILLION IN EMPLOYEE-RELATED
RESTRUCTURING COSTS
    * ICHOR HOLDINGS - EXPECTS TO INCUR NON-CASH ASSET-RELATED
CHARGES, WRITE-DOWN OF INVENTORIES OF ABOUT $3 MILLION - $5
MILLION

Source text: [ID:https://bit.ly/3dzfuoi]
Further company coverage:  ICHR.O 

 ((Reuters.Briefs@thomsonreuters.com;))