Sandvik Machining Solutions has decided to review the potential closure of a production plant for round tools within the Walter division in Frankfurt, Germany. Production volumes would be transferred to other units within Sandvik Machining Solutions.
The envisaged closure would be expected to be finalised by mid-2021 with full run rate of net savings of approximately SEK110 million. Costs related to the restructuring, amounting to approximately SEK-365 million, will impact Sandvik Machining Solutions’ operating profit in 1Q20, with the majority impacting cash flow.
Read the article online at: https://www.globalminingreview.com/environment-sustainability/21012020/sandvik-considers-further-production-footprint-consolidation/
You might also like
Madison Metals Inc. has announced the exercise of all remaining warrants with an expiration of 26 January 2023, for a total exercise of over 3 million warrants.