18 March 2014 08:31 [Source: ICIS news]
SINGAPORE (ICIS)--Nufarm is closing two of its manufacturing facilities in Australia as part of a reorganisation scheme to boost the firm’s profitability, the Australian agrochemicals producer said on Tuesday.
The closure of the facilities, located in Queensland and Western Australia, will be implemented over the next two years, the company said in a statement.
The company did not disclose further production details of the two manufacturing facilities.
The reorganisation project also involves the closure of a number of regional service centres and “a significant streamlining of management resources across most functions of the business,” it said.
The company’s units in Victoria will be expanded to facilitate production of those products currently manufactured at sites which will close, the company said.
The reorganising project will see Nufarm incur one-off restructuring costs of Australian dollars (A$) 39m ($35m), it added.
($1 = A$1.1)
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