Huhtamaki to improve competitiveness in Asia-Oceania
(Thomson Reuters ONE) -
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 27.6.2016 AT 13:00
Huhtamaki to improve competitiveness in Asia-Oceania
Huhtamaki is taking actions to improve the competitiveness of its Foodservice
business in Asia and Oceania. The actions concern the Foodservice Europe-Asia-
Oceania segment's operations in China and New Zealand, which have had an adverse
effect on the segment's earnings in 2015 and in the first quarter of 2016.
To improve competitiveness and to better equip the operations for capturing
future growth opportunities in the Chinese market, the foodservice packaging
manufacturing operations in South China will be consolidated into one efficient,
modernized unit. In addition, manufacturing will be focused on a defined core
foodservice packaging product range, while outsourcing capabilities will be
strengthened to continue serving customers with a full range of high-quality
foodservice packaging products. The actions are expected to have an impact on
approximately 350 employees across functions.
Manufacturing operations at the foodservice packaging unit in Henderson, New
Zealand, are reorganized to improve efficiency of the unit. The reorganization
is expected to have an impact on approximately 15 employees.
In addition, following a supplemental site assessment at the manufacturing unit
in Viul, Norway, which was closed in 2013, a provision to cover potential
environmental remediation actions will be booked.
Related to the above activities Huhtamaki will book approximately EUR - 8
million as items affecting comparability (IAC) in the Foodservice Europe-Asia-
Oceania business segment in the second quarter of 2016.
Combined with an earlier announced non-recurring gain of approximately EUR 8
million, relating to an increase of Huhtamaki's ownership in the joint venture
of Arabian Paper Products Company, the total effect of IAC's in the Foodservice
Europe-Asia-Oceania business segment in the second quarter of 2016 is slightly
negative.
For further information, please contact:
Jukka Moisio, CEO, tel. +358 10 686 7801
Thomas Geust, CFO, tel. +358 10 686 7880
HUHTAMÄKI OYJ
Group Communications
Huhtamaki is a global specialist in packaging for food and drink. With our
network of 73 manufacturing units and 23 sales offices in 34 countries, we're
well placed to support our customers' growth wherever they operate. Mastering
three distinctive packaging technologies, approximately 16,000 employees develop
and make packaging that helps great products reach more people, more easily. In
2015 our net sales totaled EUR 2.7 billion. The Group has its head office in
Espoo, Finland and the parent company Huhtamäki Oyj is listed on Nasdaq Helsinki
Ltd. Additional information is available at www.huhtamaki.com.
This announcement is distributed by GlobeNewswire on behalf of
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Huhtamäki Oyj via GlobeNewswire
[HUG#2023214]
Unternehmensinformation / Kurzprofil:
Datum: 27.06.2016 - 12:00 Uhr
Sprache: Deutsch
News-ID 480114
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Kategorie:
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