Brief: Nolato To Lay Off Up To 500 Employees In China

Nolato AB

24/08/2023 07:21

Aug 24 (Reuters) - Nolato AB  NOLAb.ST :
    * DECISION TO CONCENTRATE ITS INTEGRATED SOLUTIONS
OPERATIONS IN
CHINA
    * ROUGHLY SEK 60 MILLION IN NON-RECURRING COSTS WILL BE
CHARGED TO
Q3
    * DECISION WILL RESULT IN NUMBER OF PERSONNEL AT ITS BEIJING
PLANT
BEING REDUCED BY AROUND 500
    * WILL EXPAND AT ITS DONGGUAN FACILITY IN SOUTHERN CHINA
    * VHP-RELATED SALES WILL ACCOUNT FOR LESS THAN 5% OF TOTAL
GROUP
SALES GOING FORWARD

Source text for Eikon:  ID:nMFN3kcWFD 
Further company coverage:  NOLAb.ST 

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