Brief: Mildef To Streamline Defense Offering, Closing Part Of Operations

MilDef AB

16/12/2024 07:46

Dec 16 (Reuters) - MilDef Group AB  MILDEF.ST :
    * CONCENTRATES ITS ACTIVITIES TOWARDS THE DEFENSE SECTOR
    * MEASURES ARE EXPECTED TO REDUCE MILDEF'S ANNUAL NET SALES
BY
APPROXIMATELY SEK 70 MILLION
    * OPERATIONS IN LIDKÖPING, SWEDEN AND FREILASSING, GERMANY
WILL BE
CLOSED
    * INTENDS TO FULLY INTEGRATE SUBSIDIARY HANDHELD'S PORTFOLIO
FOR
DEFENSE INDUSTRY INTO MILDEF'S OTHER OPERATIONS AND TO CEASE
OPERATIONS IN HANDHELD'S OTHER SALES SEGMENTS.
    * ANNUAL COST SAVINGS ARE ESTIMATED TO AMOUNT TO SEK 50
MILLION
PER YEAR
    * RESULT FOR Q4 OF 2024 WILL BE IMPACTED WITH COSTS FOR
DECIDED
RESTRUCTURING PROGRAM AND IS EXPECTED TO TOTAL APPROXIMATELY SEK
310 MILLION
    * STRATEGIC ALIGNMENT AFFECTS APPROXIMATELY 20 EMPLOYEES IN
GROUP.
    * NEGOTIATIONS WITH RELEVANT TRADE UNIONS WILL START
IMMEDIATELY.
    * EBIT IS EXPECTED TO IMPROVE BY ABOUT SEK 20 MILLION PER
YEAR

    To streamline defense 
Source text:  ID:nWkr7Lfw9R 
Further company coverage:  MILDEF.ST 

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