Brief: Shawcor Reduces Costs And Emissions By Streamlining Calgary Operations

Mattr

19/05/2022 22:23

May 19 (Reuters) - Shawcor Ltd  SCL.TO :
    * SHAWCOR REDUCES COSTS AND EMISSIONS BY STREAMLINING
CALGARY
OPERATIONS
    * SHAWCOR - SECURED EARLY EXIT FROM LEASED FACILITY, WHICH
FORMERLY HOUSED CO'S FLEXFLOW OPERATIONS, IN CALGARY'S OXFORD
AIRPORT BUSINESS PARK
    * SHAWCOR LTD - EXIT WILL BE COMPLETED DURING Q3 OF 2022 AND
WILL
RESULT IN NET SAVINGS OF ABOUT $15 MILLION OVER COURSE OF NEXT 7
YRS
    * SHAWCOR LTD - CO'S CALGARY-BASED ACTIVITIES WILL BE
CONSOLIDATED
INTO ITS REMAINING 54(TH) AVENUE LOCATION
    * SHAWCOR LTD - WILL INCUR ONE-TIME RESTRUCTURING COSTS OF
ABOUT
$2 MILLION TO EXECUTE TRANSACTION, WHICH WILL BE REFLECTED IN Q2
FINANCIAL RESULTS

Source text for Eikon:  ID:nGNXRvRmP 
Further company coverage:  SCL.TO 

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