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BRIEF-CCL Industries plans to invest $35 mln in Mexican operations

Published 2015-09-24, 08:22 a/m
© Reuters.  BRIEF-CCL Industries plans to invest $35 mln in Mexican operations
CCLb
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Sept 24 (Reuters) - CCL Industries Inc CCLb.TO :
* Says plans to invest $35 million in its Mexican operations
* Says plans to make a significant capital investment at its guanajuato, Mexico
location over the next 3 years
* Construction of new Ccl design plant to service major global automotive
oem,tier 1 customers located in Mexico to commence this quarter
* To close avery manufacturing,distribution operations in Meridian, Mississippi
* Output from new operations will commence in late 2016 and become fully
operational by 2018
* New main United States avery distribution centre to be opened in Dallas
providing logistics to service key customers
* Ccl will report a restructuring charge of approximately $5 million in its
third quarter 2015 results
* Company expects to reduce annual costs for avery by approximately $8 million
from 2018
* Sale of avery manufacturing properties in the United States is expected to
entirely fund this part of the capital expenditure program

* Source text for Eikon ID:nMKWqWFCra
* Further company coverage CCLb.TO

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