Exel Composites Plc to close its production facility in Germany
EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 1 FEBRUARY 2019 at 11:00 EETExel Composites’ subsidiary Exel GmbH has agreed with the local works council, Betriebsrat, to close production in the Voerde manufacturing facility in Germany by 30 April 2019. The Voerde facility is Exel Composites’ smallest unit where composite profiles mainly to the telecommunications industry have been produced. As volumes have declined due to the continued challenging market situation of the telecommunications industry, the utilization level of the Voerde facility has been low. During February - April,