Brief: VPG provides a progress update to its previously announced global restructuring and cost reduction plan

Vishay Precision

23/03/2016 11:40

March 23 (Reuters) - Vishay Precision Group Inc  VPG.N : 
 * VPG provides a progress update to its previously announced global 
   restructuring and cost reduction plan 
 * Says estimated total fiscal 2016 savings increased to $6.7 million from 
   additional action 
 * Says decision to close its facility in Alajuela, Costa Rica 
 * Closure in Costa Rica will be completed by the end of May, 2016, and will 
   result in annual savings of $1.2 million 
 * Action will be completed by end of May, 2016, result in annual savings of 
   $1.2 million of which $0.7 million will be realized in 2016 
 * Production from Costa Rica will be relocated to existing facilities in the 
   U.S. and in Israel 
 * $0.7 million savings to be realized in 2016 fiscal year, with a charge of 
   approximately $0.6 million in the current quarter 
 
* Source text for Eikon  urn:newsml:reuters.com:*:nBw932WQKa 
 
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