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Essity B 220.3 (+1.3 SEK) on 24-Mar-2018 17:29

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Essity is restructuring its production facility in Santiago, Chile, to further improve quality and cost for the Consumer Tissue and Professional Hygiene businesses in the country. 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 and Professional Hygiene business areas.

The restructuring measures include the closure of one tissue machine and two converting lines.

The restructuring costs amount to approximately SEK 140m, and will be recognized as an item affecting comparability in the first quarter of 2018. Approximately SEK 30m of these costs are expected to impact cash flow.