GI Technologies Beijing <300309.SZ>:Says it will dissolve its Beijing-based wholly owned subsidiary, which is engaged in technology development of petroleum equipment and accessories.
MRC Global Inc : On August 19, committed to a plan to restructure and significantly downsize its Australian operations . Plan includes consolidation of facilities and locations, involuntary employee terminations and asset impairment charges . MRC Global Inc says to downsize its australian operations in response to continued downturn in oil and gas and mining industries in region . Restructuring plan, which will begin immediately and is expected to be completed by Q1 of 2017 . Majority of costs are expected to be incurred in Q3 and Q4 and include, on a pre-tax basis, $7-$10 million of inventory-related charges . Pre-Tax charges associated with restructuring plan expected to total $18 million to $24 million, including cash expenditures of $11 million to $14 million . Due to current pre-tax loss position in Australia, co does not expect to recognize a tax benefit on any restructuring charges - sec filing .Costs include $6-$7 million of lease termination costs, $3-$4 million for facilities relocations and $2-$3 million of employee termination costs.
GI Technologies Beijing <300309.SZ>:Says it will dissolve a Beijing-based software development wholly owned subsidiary.