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European Automotive Plants

Post Time:Oct 29,2012Classify:Industry NewsView:52

The NSG Group has informed employee representatives in its European Automotive Glass business of its intention to close those of its fabrication plants listed below:

1. Outline of the plants

     Location: Ylöjärvi, Finland
     Business: Automotive Glass for OEM and AGR
     Facilities: Laminating Manufacturing
     Number of employees: Approximately 320 persons

     Location: Landskrona, Sweden
     Business: Automotive Glass for OEM and AGR
     Facilities: Toughening Glass Manufacturing
     Number of employees: Approximately 100 persons

2. Rationale, and outline of the proposal

The Group is taking action to reduce capacity and output to match the requirements of its customers, consistent with its restructuring program, originally announced on 2 February 2012. These closures are expected to be completed during the calendar year 2013.

3. Estimated costs and benefits of this decision

(1)Total cost: Approximately EUR31 m (JPY3.1 bn)
    (a)Cash expenses: Approximately EUR17m (JPY 1.7 bn)
    (b)Non-cash charges: Approximately EUR14m (JPY1.4 bn)
(2)Recurring profit benefit: Approximately EUR14m (JPY1.4 bn)

4. Impact on operations

These actions are anticipated within the Group’s previously announced forecast for the current financial year and no change to that forecast is therefore expected as a result of this announcement.

Source: http://www.glassonweb.com/news/index/17480/Author:

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