Ansell to shut Mexico and South Korean sites

Company News

by Anna Napoli

Ansell (ASX:ANN) is set to shut down three production facilities in Mexico and South Korea.

The closures form part of Ansell's transformation program which is on track to save $30 million a year by 2020.

Ansell says it will now consolidate manufacturing activities at its facilities in Vietnam, Sri Lanka, Malaysia and Thailand.

The company says with the streamlined manufacturing footprint at its best performing and most efficient sites, it expects to generate more than $20 million of annual cost savings.

Shares in Ansell (ASX:ANN) Shares are trading 1.23 per cent higher to $23.09.