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Nolato’s Integrated Solutions business area concentrates its Chinese operations

Nolato’s Integrated Solutions business area concentrates its Chinese operations; roughly SEK 60 million in non-recurring costs will be charged to the third quarter

Nolato has taken the decision to concentrate its Integrated Solutions operations in China, which, among other things, will result in the number of personnel at its Beijing plant being reduced by around 500. At the same time, Nolato will expand at its Dongguan facility in southern China. This decision will mean that the third quarter will be impacted by roughly SEK 60 million in non-recurring costs.

It will also mean that Nolato’s VHP-related sales will account for less than 5% of total Group sales going forward.

Contact

For further information, please contact:
Christer Wahlquist, President and CEO, +46 (0)705 804848
Per-Ola Holmström, CFO, +46 (0)705 763340, per-ola.holmstrom@nolato.com

About Us

Nolato is a Swedish group with operations in Europe, Asia, and North America. We develop and manufacture products in polymer materials such as plastic, silicone and TPE for leading customers within medical technology, pharmaceuticals, consumer electronics, telecom, automotive, hygiene and other selected industrial sectors. Nolato’s shares are listed on Nasdaq Stockholm in the Large Cap segment, where they are included in the Industrials sector.  www.nolato.com/IR

This information is information that Nolato is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-08-24 08:13 CEST.

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Nolato’s Integrated Solutions business area concentrates its Chinese operations

Source:MFN
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