Umicore Shares Details On Cost Saving Measures
Nov 6 (Reuters) -Umicore SA UMI.BR:
SHARES DETAILS ON COST SAVING MEASURES AND PAUSES CONSTRUCTION OF ITS BATTERY MATERIALS PLANT IN CANADA
HAS DECIDED TO CONTINUE TO PAUSE CONSTRUCTION OF ITS BATTERY MATERIALS PLANT IN LOYALIST, ONTARIO, CANADA
COST SAVING MEASURES EXPECTED TO GENERATE APPROXIMATELY EUR 40 MILLION ANNUALIZED SAVINGS IN 2025
STRATEGIC REVIEW CONTINUES AND FURTHER OUTCOMES WILL BE COMMUNICATED LATEST AT UPCOMING CAPITAL MARKETS DAY
MEASURES MAY IMPACT APPROXIMATELY 260 POSITIONS IN SELECT PARTS OF THE ORGANIZATION. IN BATTERY MATERIALS
IN BATTERY MATERIALS, INTENDS TO RESIZE THE WORKFORCE PREDOMINANTLY IN ITS PRODUCTION PLANT IN JIANGMEN, CHINA
LONG-TERM SUPPLY AGREEMENT WITH AESC FOR HIGH-NICKEL CATHODE ACTIVE MATERIALS FOR NORTH AMERICAN MARKET WILL BE SERVED FROM PLANT IN CHEONAN, KOREA
COST SAVING MEASURES ANNOUNCED TODAY COME ON TOP OF ITS EFFICIENCY PROGRAM INITIATED IN 2023
EXPECTED TO GENERATE APPROXIMATELY €40 MILLION3 ANNUALIZED SAVINGS IN 2025
IT FURTHER INTENDS TO RESIZE ITS GROUP CORPORATE FUNCTIONS IN LINE WITH CURRENT NEEDS
IN AUTOMOTIVE CATALYSTS, INTENDS TO TRANSFER HEAVY-DUTY DIESEL RESEARCH AND DEVELOPMENT WORK TO HANAU SITE
IN AUTOMOTIVE CATALYSTS: TO DISCONTINUE RESEARCH AND DEVELOPMENT ACTIVITIES IN HØRSHOLM (DENMARK)
IN BELGIUM, APPROXIMATELY 100 POSITIONS MAY BE IMPACTED
Source text: ID:nGNE6m1Ksp
Further company coverage: UMI.BR
(Gdansk Newsroom)
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