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BRIEF-Sunopta says ‍intends to exit its nutrition bar product lines and operations in Carson City, NV​
September 27, 2017 / 12:10 PM / 2 months ago

BRIEF-Sunopta says ‍intends to exit its nutrition bar product lines and operations in Carson City, NV​

Sept 27 (Reuters) - Sunopta Inc:

* Says ‍intends to exit its nutrition bar product lines and operations in Carson City, NV​

* Says ‍cessation of operations is part of co’s ongoing portfolio optimization strategy and value creation plan​

* Sunopta Inc - ‍expects to incur charges of approximately $8.0 million to $9.5 million relating to facility closure​

* Sunopta Inc says working with its nutrition bar customers to expedite exit from these operations and is targeting completion by end of fiscal 2017​

* Sunopta Inc - ‍decision to cease operations at carson city is accretive to ebitda and allows co to redeploy both financial and human resources towards more profitable segments of co’s business​

* Sunopta Inc - non-cash and cash charges relating to facility closure are expected to be recognized during third and fourth quarters of fiscal 2017

* Sunopta-Cash charges relating to facility closure are expected to be largely offset by recovery of working capital after full wind-down of operations Source text for Eikon: Further company coverage:

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