Brief: Fromageries Bel Board Of Directors Announces Cost-Savings Effort To Support Growth Plan

Unibel SA

11/12/2018 17:37

Dec 11 (Reuters) - FROMAGERIES BEL SA  FROB.PA :
    * BOARD OF DIRECTORS OF FROMAGERIES BEL TODAY CONFIRMED THE
AMBITIONS OF THE TRANSFORMATION AND SUSTAINABLE GROWTH PLAN
INITIATED SINCE 2015
    * IN TOTAL, THIS PLAN SHOULD GENERATE SAVINGS OF 120 MILLION
EUROS
AT GROUP LEVEL BY 2020
    * WILL FURTHER REINVEST €40 MILLION OF THE SAVINGS GENERATED
BY
THE COST-CUTTING EFFORT TO SUPPORT ITS GROWTH ACCELERATION
    * PLAN INVOLVES JOB CUTS, MAINLY AT THE COMPANY’S SURESNES
HEADQUARTERS THROUGH A VOLUNTARY DEPARTURE PROGRAM
    * STATUTORY PROCEDURE TRIGGERED BY THE VOLUNTARY DEPARTURE
PROGRAM
CONTINUES TO ADVANCE.
    * COSTS RESULTING FROM IMPLEMENTATION OF TRANSFORMATION PLAN
ESTIMATED TO DATE AT 30 MILLION € AND WILL BE BOOKED IN 2018
FINANCIAL STATEMENTS

Source text for Eikon:  ID:nGNE3sCs27 
Further company coverage:  FROB.PA 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))