Ontex: accelerates integration activities in Brazil
(CercleFinance.com) - The Belgian hygiene products group Ontex Group has announced an acceleration of its integration activities in Brazil, with the aim of supporting sustainable profitable growth over the coming years in this large market.
It will thus transfer its Aparecida de Goiânia production activity to the Senador Canedo site, which will result in a pre-tax charge of 30 million euros in 2018 and annualised savings of 7 million euros at the level of recurrent operating profit.
This business transfer, which is intended after an in-depth analysis, is planned to take place in the third quarter of 2018. It will be accompanied by the transfer of most employees concerned, with the Aparecida factory in Goiania then becoming inactive.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
It will thus transfer its Aparecida de Goiânia production activity to the Senador Canedo site, which will result in a pre-tax charge of 30 million euros in 2018 and annualised savings of 7 million euros at the level of recurrent operating profit.
This business transfer, which is intended after an in-depth analysis, is planned to take place in the third quarter of 2018. It will be accompanied by the transfer of most employees concerned, with the Aparecida factory in Goiania then becoming inactive.
Copyright (c) 2018 CercleFinance.com. All rights reserved.