October 19, 2016 / 5:50 AM / a year ago

BRIEF-Efore targets up to EUR 7 million of annual savings

Oct 19 (Reuters) - Efore Plc :

* Intends to initiate cost savings program immediately

* Is targeting up to 7 million euros ($7.7 million) annual savings in fixed costs.

* Implementation period for program is estimated to continue at end of 2016

* Substantial one-time costs related to actions from planned cost savings program and outsourcing of production are estimated to be about 5 million-6 million euros Source text for Eikon:

Further company coverage: ($1 = 0.9107 euros) (Gdynia Newsroom)

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