Ekornes ASA : Decided to combine company's two Stressless Sofa production facilities, closing down Hareid facility and moving the operation to Vestlandske in Sykkylven . Restructuring is a part of previously announced cost-reduction programme and is expected to reduce cost base by more than 10 million Norwegian crowns ($1.21 million) by end of 2016 . Merger is expected to yield annual cost savings exceeding 10 million crowns . Combination of two facilities will provide a necessary capacity adjustment and a more effective production . Combination of two facilities affects some 70 employees at Hareid facility . Ekornes expects one-off costs of 5 million crowns related to the combination of the two facilities . The book value of the Hareid facility is 38 million crowns, which is expected to be impacted by write-downs . All costs will be charged to the second quarter 2016 results .The merge of the facilities will start immediately with a step-vice transfer of production during the third and fourth quarter of 2016.
Ekornes ASA : Due to low order intake within Ekornes' Stressless segment, capacity at the segment's production facilities on the Northwest coast of Norway will be reduced by five production days during May and June .Order reserve is good within other segments.
Sato Office And Houseware Supplies SA:Plans development of ENTOS and SATO store Thessalonikis.The store will be transferred till the end of Q1 at larger store with franchise method.The above action will improve operating costs in Thessaloniki.Aims in FY 2016 to expand at the flooring market.
QuMei Home Furnishings Group Co., Ltd:To dissolve Beijing-based wholly owned subsidiary which has been engaged in sofa manufacturing.
Jaycorp Bhd:Says the Company was informed on 7 August 2015 that Jaycorp Home Furnishings Inc., a wholly-owned subsidiary of the Company, has been struck-off from the Register by the Labuan Financial Services Authority effective 8 July 2015.
Dogtas Kelebek Mobilya Sanayi ve Ticaret AS:To merge with its 3 units 2K Oturma Gruplari, 3K Mobilya Dekorasyon and Dogtas Mobilya Pazarlama by takeover.