Essity restructures in Spain
To further increase efficiency, Essity is restructuring its Consumer Tissue production in Spain. 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 measures to be implemented in 2018 include the closure of the production facility in La Riba and the closure of one tissue machine at the production facility in Allo.
The restructuring costs are expected to amount to approximately SEK 245m, of which approximately SEK 205m will be recognized as an item affecting comparability in the second quarter of 2018. The remaining costs will be recognized as an item affecting comparability in the fourth quarter of 2018. Approximately SEK 110m of the restructuring costs is expected to affect cash flow.
For further information, please contact:
Karl Stoltz, Media Relations Manager, +46 8 788 51 55, firstname.lastname@example.org
Johan Karlsson, Vice President Investor Relations, +46 8 788 51 30, email@example.com
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.