Nufarm Limited
(ASX:NUF) is set to streamline its Australian business through a reorganisation geared to improving its cost structure, product innovation and customer service.
The changes will include the phased closure of two manufacturing facilities in Western Australia and Queensland and a number of regional service facilities, while facilities in Victoria will expand.
The agricultural chemicals supplier also has plans for a new management structure and has flagged a headcount reduction for various support and administration roles.
Managing Director Doug Rathbone says the changes will enable the company to be more responsive, competitive and focused on delivering innovative, high quality products.
Nurfarm will book a one-off restructuring cost of up to $39 million in the current financial year but expects to gain annual cost savings of up to $13 million as a result of the changes.
Nufarm has also announced it is currently reviewing its manufacturing operations in New Zealand, following the latest changes in Australia which came as the result of a review.
Nufarm reported a net profit of $81.75 million in the 2013 financial year.
