Essity restructures in France
To further strengthen competitiveness and increase efficiency, Essity is restructuring its Consumer Tissue production in France.
Essity is closing a converting facility for retail branded products in Saint-Etienne-du-Rouvray and invests in remaining integrated production facilities in France. The closure is expected during the fourth quarter of 2018. These measures are aligned with the company’s strategy to optimize the production footprint to increase cost and capital efficiency and further increase value creation in the Consumer Tissue business area.
The restructuring costs are expected to amount to approximately SEK 480m, of which approximately SEK 430m is expected to be recognized as an item affecting comparability in the third quarter of 2018. The remaining costs are expected to be recognized as an item affecting comparability in 2019. Approximately SEK 320m of the restructuring costs are expected to impact cash flow. Total investments will amount to approximately SEK 210m.
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Henrik Sjöström, Media Relations Manager, +46 8 788 51 36, email@example.com
Johan Karlsson, Vice President Investor Relations, +46 8 788 51 30, firstname.lastname@example.org
Essity is a leading global hygiene and health company dedicated to improving well-being through our products and solutions, essentials for everyday life. The name Essity stems from the words essentials and necessities. Our sustainable business model creates value for people and nature. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands, such as Jobst, Leukoplast, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa. Essity has about 48,000 employees and net sales in 2017 amounted to approximately SEK 109bn (EUR 11.3bn). The headquarters is located in Stockholm, Sweden, and the company is listed on Nasdaq Stockholm. More information at www.essity.com.