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MTSC - MTS Systems News Story

$58.49 0.0  0.0%

Last Trade - 06/04/21

Sector
Industrials
Size
Mid Cap
Market Cap £810.6m
Enterprise Value £1.14bn
Revenue £584.6m
Position in Universe th / 6856

BRIEF-MTS Systems Announces Workforce Reductions & Manufacturing Facility Closures

Tue 13th March, 2018 10:20am
March 13 (Reuters) - MTS Systems Corp  MTSC.O :
    * MTS SYSTEMS - ANNOUNCES WORKFORCE REDUCTIONS &
MANUFACTURING
FACILITY CLOSURES IN TEST SEGMENT RELATING TO TRANSFER OF
PRODUCTION OPERATIONS IN CHINA
    * MTS SYSTEMS - ACTIONS TO IMPACT 2 TEST CHINA MANUFACTURING
FACILITIES WITH NO CHANGES ANTICIPATED IN U.S. OR EUROPEAN
OPERATIONS FROM TRANSFER
    * MTS SYSTEMS CORP - ‍ANTICIPATES RESTRUCTURING ACTION TO BE
COMPLETED BY END OF FISCAL YEAR 2018 WITH MAJORITY OF CASH PAID
IN Q4 OF FISCAL YEAR 2018​
    * MTS SYSTEMS SAYS ESTIMATES IT WILL INCUR A TOTAL OF ABOUT
$3.2
TO $5.2 MILLION OF PRE-TAX RESTRUCTURING EXPENSES RELATED TO
ACTION - SEC FILING
    * MTS SYSTEMS - WORKFORCE REDUCTIONS &  FACILITY CLOSURES IN
CHINA
RELATE TO TRANSFER OF PRODUCTION OPERATIONS TO CONTRACT
MANUFACTURING PARTNER

Source: (http://bit.ly/2p6xyjd)
Further company coverage:  MTSC.O 

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