Brief: Solvay Opens Consultation To Cease Production At Salindres Site

Solvay SA

24/09/2024 17:07

Sept 24 (Reuters) - Solvay SA  SOLB.BR :
    * SOLVAY OPENS CONSULTATION TO CEASE PRODUCTION AT SALINDRES
SITE
    * ENVISAGED DISCONTINUATION OF THESE ACTIVITIES WOULD RESULT
IN
ELIMINATION OF 68 POSITIONS
    * TO RECORD €50 MILLION PROVISIONS IN Q3 2024
    * PLAN TO CEASE PRODUCTION IS DUE TO CONTINUED NEGATIVE
FINANCIAL
PERFORMANCE OF SALINDRES PLANT OVER PAST FEW YEARS
    * 2024 EBITDA AND FCF GUIDANCE UNCHANGED
    * MAJORITY OF CORRESPONDING CASH-OUT WILL OCCUR FROM 2025
ONWARDS
    * DISCONTINUATION AND ELIMINATION OF POSITIONS BETWEEN EARLY
2025
AND OCTOBER 2025

Source text for Eikon:  ID:nGNE1wn0RJ 
Further company coverage:  SOLB.BR 

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