Ansell to shut Mexico and South Korean sites

Company News

by Anna Napoli

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$29.650 -$0.076 -0.26%
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Last Updated: 28/02/2020 3:59 PM

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.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.