Brief: CCL Industries plans to invest $35 mln in Mexican operations

OEM International AB

24/09/2015 13:03

Sept 24 (Reuters) - CCL Industries Inc  CCLb.TO : 
 * Says plans to invest $35 million in its Mexican operations 
 * Says plans to make a significant capital investment at its guanajuato, Mexico 
   location over the next 3 years 
 * Construction of new Ccl design plant to service major global automotive 
   oem,tier 1 customers located in Mexico to commence this quarter 
 * To close avery manufacturing,distribution operations in Meridian, Mississippi 
 * Output from new operations will commence in late 2016 and become fully 
   operational by 2018 
 * New main United States avery distribution centre to be opened in Dallas 
   providing logistics to service key customers 
 * Ccl will report a restructuring charge of approximately $5 million in its 
   third quarter 2015 results 
 * Company expects to reduce annual costs for avery by approximately $8 million 
   from 2018 
 * Sale of avery manufacturing properties in the United States is expected to 
   entirely fund this part of the capital expenditure program 
 
 * Source text for Eikon  ID:nMKWqWFCra  
 * Further company coverage  CCLb.TO  
 
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