Huhtamaki to improve competitiveness in Asia-Oceania
Manufacturing operations at the foodservice packaging unit in Henderson, New Zealand, are reorganized to improve efficiency of the unit. The reorganization is expected to have an impact on approximately 15 employees.
In addition, following a supplemental site assessment at the manufacturing unit in Viul, Norway, which was closed in 2013, a provision to cover potential environmental remediation actions will be booked.
Related to the above activities Huhtamaki will book approximately EUR - 8 million as items affecting comparability (IAC) in the Foodservice Europe-Asia-Oceania business segment in the second quarter of 2016.
Combined with an earlier announced non-recurring gain of approximately EUR 8 million, relating to an increase of Huhtamaki's ownership in the joint venture of Arabian Paper Products Company, the total effect of IAC's in the Foodservice Europe-Asia-Oceania business segment in the second quarter of 2016 is slightly negative.
Most read news
Other news from the department business & finance
Get the food & beverage industry in your inbox
From now on, don't miss a thing: Our newsletter for the food & beverage sector brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.