Brief: Kalera PLC Says Kalera Plans To Temporarily Halt Production At Orlando And Atlanta Farms

Kalera

13/01/2023 16:19

Jan 13 (Reuters) - Kalera PLC  KAL.O :
    * KALERA PLC - KALERA PLANS TO TEMPORARILY HALT PRODUCTION
AT
ORLANDO AND ATLANTA FARMS
    * KALERA PLC - COST CUTTING MEASURES SHOULD RESULT IN TOTAL
ANNUAL
COST SAVINGS OF APPROXIMATELY 74% IN 2023 COMPARED TO EXPENSES
INCURRED IN 2022
    * KALERA PLC - EXPECT TO ACHIEVE CASH FLOW BREAK-EVEN BY END
OF
FISCAL YEAR 2023
    * KALERA PLC -  PRODUCTION HALT AT ORLANDO AND ATLANTA FARMS
WILL
RESULT IN AN ANNUAL RUN RATE REDUCTION OF OPERATING EXPENSES OF
APPROXIMATELY $4.9 MILLION
    * KALERA PLC - CO RELOCATING CORPORATE OFFICES FROM ORLANDO
TO
DENVER FARM, REDUCING CORPORATE G&A EXPENSES BY APPROXIMATELY
$0.8 MILLION ANNUALLY

Source text for Eikon:  ID:nGNX4hMlxP 
Further company coverage:  KAL.O 
 ((Reuters.Briefs@thomsonreuters.com;))