Dometic consolidates operations in China
Dometic Group AB (publ) has signed an agreement to divest an industrial property in Shenzhen. The divestment is a natural step in the strategic manufacturing footprint consolidation in China. Production will be relocated to the facility in Zhuhai and another facility in Shenzhen.
The divested production facility comprising of a total of 14,000 square meters. The selling price amounts to CNY 160 million (approximately SEK 205 million). The expected net gain will amount to CNY 80-100 million, and the full amount will be recognized in the result in the third quarter 2017. 70 per cent of the cash flow impact will materialize during 2017 and the remaining 30 per cent during the first half of 2018.
“The property divestment is part of the strategic consolidation of our Chinese operations. This allows us to focus our manufacturing activities in fewer sites in China and continue to improve production efficiency”, says Roger Johansson, President and CEO of Dometic.
For more information, please contact:
Johan Lundin, Head of Investor Relations and Communications
Tel: +46 (0)8 501 025 46
Email: ir@dometicgroup.com
This information is information that Dometic Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15:00 CEST on July 13, 2017.
ABOUT DOMETIC GROUP
Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation and Food & Beverage. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Dometic offer products and solutions that enrich people’s experiences away from home, whether in a motorhome, caravan, boat or a truck. Our motivation is to create smart and reliable products with outstanding design. We operate 22 manufacturing/assembly sites in nine countries, sell our products in approximately 100 countries and manufacture approximately 85% of products sold in-house. We have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of SEK 12.4 billion in 2016 and is headquartered in Solna, Sweden.