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BRIEF-Velan Inc Announces Next Steps In Its Velocity 2020 Transformation Plan

Published 2019-01-10, 05:04 p/m
BRIEF-Velan Inc Announces Next Steps In Its Velocity 2020 Transformation Plan

Jan 10 (Reuters) - Velan Inc VLN.TO :

* VELAN INC. ANNOUNCES NEXT STEPS IN ITS VELOCITY 2020 TRANSFORMATION PLAN

* VELAN INC - CURRENT PRODUCTION WILL BE INTEGRATED INTO CO'S OTHER VALVE FACILITIES IN QUEBEC AND INDIA

* VELAN INC - WILL WORK WITH UNION TO MINIMIZE IMPACT OF INTEGRATION ON EMPLOYEES

* VELAN INC - EMPLOYEES NOT IMPACTED BY LAYOFFS WILL BE PROVIDED WITH SEVERANCE AND OUTPLACEMENT SUPPORT

* VELAN INC - WILL CONSOLIDATE ITS VALVE MANUFACTURING FACILITIES IN QUEBEC FROM 3 PLANTS INTO 2

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