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Essity B 229.8 (+0.3 SEK) on 13-Dec-2018 17:29

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To further strengthen competitiveness and increase efficiency, Essity is restructuring its Consumer Tissue production in France.

Essity is closing a converting facility for retail branded products in Saint-Etienne-du-Rouvray and invests in remaining integrated production facilities in France. The closure is expected during the fourth quarter of 2018. 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 business area.

The restructuring costs are expected to amount to approximately SEK 480m, of which approximately SEK 430m is expected to be recognized as an item affecting comparability in the third quarter of 2018. The remaining costs are expected to be recognized as an item affecting comparability in 2019. Approximately SEK 320m of the restructuring costs are expected to impact cash flow. Total investments will amount to approximately SEK 210m.