IFG FOCUSES ON NICHE PRODUCTS AND REDUCES PRODUCTION CAPACITY IN ENGLAND

February 17, 2021

   Duroc's portfolio company International Fibres Group (IFG) is strengthening its focus on niche products with higher growth potential in accordance with the group’s strategic plan. As a consequence, production capacity is being restructured and streamlined, and as a result the production facility in Drighlington will be closed down. Parts of the production will be moved to other production facilities in Europe.

   The last day of operation in Drighlington will be the end of June 2021. Following the closure, IFG will have three production facilities located in England, Belgium and Austria.

   The implementation is estimated to entail non-recurring costs of approximately SEK 30 million, which will be charged to the results in the third quarter of 2020/21. The rearrangement is expected to lead to an annual profit improvement of approximately SEK 10 million and also lead to improved long-term stability within IFG.



For further information

John Häger, CEO Duroc, 0702 48 72 99

The information in this press release is such that Duroc AB is obliged to publish in accordance with EU’s Market Abuse Regulation. The information herein was provided for publication at 9:00 a.m. (CET), 17 February 2021 by the contact person named below.

Duroc AB (publ)

Box 5277, SE-102 46 Stockholm, Sweden Street address: Linnégatan 18
Corporate ID number: 556446-4286

Duroc acquires and develops industrial and trading companies. With deep knowledge of technology and markets, the Group’s companies aim for leading positions in their respective industries. Duroc is listed on NASDAQ OMX Stockholm (symbol: DURC). www.duroc.se