Brief: Watts Water Tech Says Board Approved Restructuring Program With Respect To Co's Operating Facilities In France

Watts Water Technologies

30/06/2021 22:14

June 30 (Reuters) - Watts Water Technologies Inc  WTS.N :
    * WATTS WATER TECHNOLOGIES - ON JUNE 25, BOARD APPROVED
RESTRUCTURING PROGRAM WITH RESPECT TO CO’S OPERATING FACILITIES
IN FRANCE
    * WATTS WATER TECHNOLOGIES - RESTRUCTURING PROGRAM IS
EXPECTED TO
INCLUDE SHUTDOWN OF CO’S MANUFACTURING FACILITY IN MÉRY, FRANCE
    * WATTS WATER TECHNOLOGIES - PROGRAM EXPECTED TO CONSOLIDATE
MÉRY
FACILITY’S OPERATIONS INTO CO’S FACILITIES IN VIREY-LE-GRAND &
HAUTVILLERS, FRANCE
    * WATTS WATER TECHNOLOGIES - PROGRAM IS EXPECTED TO INCLUDE
PRE-TAX CHARGES TOTALING ABOUT $26 MILLION
    * WATTS WATER TECHNOLOGIES - PROGRAM WILL RESULT IN
ELIMINATION OF
ABOUT 80 POSITIONS AT MÉRY, FRANCE FACILITY
    * WATTS WATER TECHNOLOGIES - AS A RESULT OF FACILITY
CONSOLIDATIONS NET HEADCOUNT REDUCTION IN FRANCE IS EXPECTED TO
BE ABOUT 50 POSITIONS
    * WATTS WATER TECHNOLOGIES - EXPECTS COSTS TO BE INCURRED
THROUGH
H2 OF 2022, AT WHICH TIME RESTRUCTURING PROGRAM IS EXPECTED TO
BE COMPLETED

Further company coverage:  WTS.N 

 ((Reuters.Briefs@thomsonreuters.com;))