November 9, 2017 / 6:50 AM / in a month

BRIEF-Recipharm to end operations in two facilities in Sweden

Nov 9 (Reuters) - RECIPHARM AB (PUBL):

* RECIPHARM TO END OPERATIONS IN TWO FACILITIES IN SWEDEN

* ‍TO START A PROCESS WITH INTENTION OF DISCONTINUING ACTIVITIES BOTH IN STOCKHOLM AND HÖGANÄS.​

* ‍WILL EXPLORE OPPORTUNITY TO CLOSE FACILITIES DURING SECOND HALF OF 2019​

* SAYS ‍WILL EVALUATE DIFFERENT OPTIONS FOR FACILITY SUCH AS DIVESTMENT OF MANUFACTURING SITE​

* ‍FINAL DECISION REGARDING DISCONTINUED MANUFACTURING OPERATIONS IN STOCKHOLM AND HÖGANÄS TO BE MADE BEFORE END-2017

* ‍CLOSURE AFFECTS APPROXIMATELY 225 OF SWEDISH EMPLOYEES​

* ‍WILL EXPLORE OPPORTUNITY TO CLOSE FACILITIES IN GREATER STOCKHOLM AREA DURING SECOND HALF OF 2019​

* ‍ESTIMATED NON-RECURRING COSTS ASSOCIATED WITH DECISION TO DISCONTINUE OPERATIONS ARE EXPECTED TO BE CHARGED TO Q4​

* ‍ESTIMATED NON-RECURRING COSTS ASSOCIATED WITH DECISION TO BE CHARGED TO Q4 RESULTS​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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