New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 1, 2014
16:11 EDTFELEFranklin Electric to close Wittlich, Germany facility
Franklin Electric has approved a plan to close its Wittlich, Germany manufacturing facility. As part of this action, the Company will transfer the existing Wittlich manufacturing activity to its Brno, Czech Republic facility. The transfer should be completed by the middle of 2016. The company will maintain its European Water Systems Headquarters and distribution center in Wittlich and this announcement pertains only to the manufacturing operations located there. Further, the company will also complete other asset write-offs, miscellaneous realignments and fixed costs reductions in other European based business units and facilities. The company has estimated the pretax charge for these actions to be between $13.2M-$14M. The charges will begin in Q3 and are estimated to conclude by the end of 2016 and include severance expenses, professional service fees, asset write-offs, and temporarily leased facilities costs. Approximately 10% of these charges will be non-cash.
News For FELE From The Last 14 Days
Check below for free stories on FELE the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for FELE

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use