Brief: Tomra Initiates EUR 30 Mln Cost Reduction Program In Food Division

Tomra Systems ASA

12/10/2023 14:32

Oct 12 (Reuters) - Tomra Systems ASA  TOM.OL :
    * TOMRA: INITIATING EUR 30 MILLION COST REDUCTION PROGRAM IN
TOMRA
FOOD DIVISION
    * BOTH GROWTH AND PROFITABILITY HAVE BEEN BELOW TARGET IN
2023 AS
CUSTOMERS HAVE BEEN FACED WITH A COMBINATION OF CHALLENGES
    * CHALLENGES INCLUDE DIFFICULT MACROECONOMIC CONDITIONS AND
LOST
OR DAMAGED HARVESTS, ESPECIALLY WITHIN FRESH FOOD SEGMENT.
    * PROGRAM IS EXPECTED TO INCUR ONE-OFF COSTS OF AROUND EUR
20
MILLION
    * FULL COST SAVING BENEFITS ARE EXPECTED BY END OF 2024.

Source text for Eikon:  ID:nWkrtjnFn 
Further company coverage:  TOM.OL 

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