Nufarm Limited
(ASX:NUF) has announced it will close its manufacturing operations in Calgary.
The move forms part of a restructure to the agricultural chemical company’s North American manufacturing footprint as Nufarm seeks to build a more responsive, flexible and cost effective structure.
Nufarm said the rationalisation of the company’s Calgary manufacturing activities is expected ot result in permanent annualised EBIT improvement of $3.3 million.
Nufarm Managing Director and CEO Greg Hunt said the savings were part of a performance improvement program to meet its previous pledge to deliver a net EBIT benefit of $116 million by FY18.
Nufarm recorded a net profit of $43.05 million at 31 July 2015
