Outline of the plants
(1)Ylöjärvi
Location: Ylöjärvi, Finland
Business: Automotive Glass for OEM and AGR
Facilities: Laminating Manufacturing
Number of employees: Approximately 320 persons
(2)Orja
Location: Landskrona, Sweden
Business: Automotive Glass for OEM and AGR
Facilities: Toughening Glass Manufacturing
Number of employees: Approximately 100 persons
2. Rationale, and outline of the proposal
The Group is taking action to reduce capacity and output to match the requirements of its customers, consistent with its restructuring program, originally announced on 2 February 2012. These closures are expected to be completed during the calendar year 2013.
3. Estimated costs and benefits of this decision
(1)Total cost: Approximately EUR31 m (JPY3.1 bn)
(a)Cash expenses: Approximately EUR17m (JPY 1.7 bn)
(b)Non-cash charges: Approximately EUR14m (JPY1.4 bn)
(2)Recurring profit benefit: Approximately EUR14m (JPY1.4 bn)
4. Impact on operations
These actions are anticipated within the Group’s previously announced forecast for the current financial year and no change to that forecast is therefore expected as a result of this announcement.