Brief: Systemair Discontinues Menerga's Production In Germany

Systemair AB

08/11/2023 14:39

Nov 8 (Reuters) - Systemair AB  SYSR.ST :
    * DISCONTINUES MENERGA'S PRODUCTION IN GERMANY
    * DECIDED TO DISCONTINUE PRODUCTION OF MENERGA PRODUCTS IN
MUELHEIM AN DER RUHR, GERMANY, IN 2024
    * RESOURCES FOR PRODUCT DEVELOPMENT, SALES, AND SUPPORT WILL
REMAIN IN MUELHEIM AN DER RUHR
    * RESTRUCTURING IS EXPECTED TO GENERATE ANNUAL COST SAVINGS
OF AT
LEAST SEK 70 MILLION WITH FULL EFFECT FROM FINANCIAL YEAR
2025/26.
    * STRUCTURAL CHANGE ENTAILS A COST OF APPROXIMATELY SEK 125
MILLION FOR SEVERANCE PAY AND IMPAIRMENT OF ASSETS, WHICH WILL
BE CHARGED TO OPERATING PROFIT FOR Q3 OF 2023

Source text for Eikon:  ID:nWkr8J2JYn 
Further company coverage:  SYSR.ST 

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