Brief: Scandinavian Tobacco Group A/S Has Decided To Close Co's Unit's Production Facility In Tucker, Georgia

Scandinavian Tobacco A/S

17/10/2019 18:21

Oct 17 (Reuters) - Scandinavian Tobacco Group A/S
 STOGR.CO :
    * REG-SCANDINAVIAN TOBACCO GROUP A/S OPTIMISES ITS
MANUFACTURING
FOOTPRINT
    * CLOSURE IS EXPECTED TO BE COMPLETED BY END OF 2020
    * TRANSFER OF PRODUCTION IS EXPECTED TO INCUR INVESTMENTS OF
ABOUT
DKK 30 MILLION.
    * SCANDINAVIAN TOBACCO -DECISION TO CLOSE FACILITY IN TUCKER
WILL
REGRETTABLY RESULT IN TERMINATIONS OF POSITIONS AT SCANDINAVIAN
TOBACCO GROUP LANE
    * AFFECTED EMPLOYEES WILL BE OFFERED OUTPLACEMENT SUPPORT
    * SCANDINAVIAN TOBACCO - SPECIAL COSTS RELATED TO CLOSURE
ARE
EXPECTED OF ABOUT DKK 120 MILLION AND WILL BE EXPENSED IN 2019
    * DKK 20 MILLION OF SPECIAL COST ARE EXPECTED TO HAVE CASH
FLOW
EFFECT IN 2020
    * SCANDINAVIAN TOBACCO GROUP - CLOSURE OF FACTORY WILL
RESULT IN
NON-CASH IMPAIRMENT COSTS OF ABOUT DKK 100 MILLION

Source text for Eikon:  ID:nGNE9tKkYD 
Further company coverage:  STOGR.CO 

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