Brief: Reliance Worldwide Corp Says Near 85 Employees To Be Affected By Closure Of Brass Manufacturing Ops In Australia
Tue 02:33
BRIEF-Reliance Worldwide Corp Says Near 85 Employees To Be Affected By Closure Of Brass Manufacturing Ops In Australia June 23 (Reuters) - Reliance Worldwide Corporation Ltd RWC.AX:
AROUND 85 EMPLOYEES ARE EXPECTED TO BE AFFECTED BY CLOSURE OF BRASS MANUFACTURING OPERATIONS IN AUSTRALIA
INTENTION TO CLOSE BRASS CASTING, FORGING, MACHINING OPERATIONS IN MOORABBIN BRAESIDE, MELBOURNE
EXPECTS TO RECOGNISE A ONE-OFF NET CHARGE OF US$100 MILLION TO US$110 MILLION IN FY26
NO LONGER ECONOMICALLY VIABLE TO CONTINUE OPERATIONS IN MOORABBIN AND BRAESIDE
RWC EXPECTS NET ANNUAL EBITDA BENEFIT OF APPROXIMATELY US$9 MILLION ACROSS GROUP BY END OF FY27
FROM FY27, PRODUCTION WILL SHIFT AWAY FROM APAC
Further company coverage: RWC.AX
((Reuters.Briefs@thomsonreuters.com;))
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Brief: Reliance Worldwide Corp Says Near 85 Employees To Be Affected By Closure Of Brass Manufacturing Ops In Australia