Exel Composites initiates employee negotiations concerning the closure of one of its manufacturing facilities in Nanjing, China
EXEL COMPOSITES PLC INSIDE INFORMATION 28 FEBRUARY 2022 at 09:00 EETExel Composites has initiated employee negotiations concerning the closure of its manufacturing facility located in downtown Nanjing, China. The negotiations concern 46 employees. In addition to this facility, Exel Composites has another manufacturing site in the Nanjing area, where the production of the site to be closed is intended to be transferred. The potential closure of the Nanjing site would result in annual synergies and cost savings totaling approximately EUR 0.7 million. According to preliminary