02 Oct 2018 --- After a poor financial performance in the first half of 2018, Huhtamaki has announced that it is considering closing and writing-off non-competitive production lines in a move that is hoped to generate US$17-20million (€15-18million) by 2020. The company estimates that the effect of write-offs and other actions amounts to approximately US$-35million (€-30million), which would be reported as items affecting comparability (IAC) in the fourth quarter of 2018. It has not been disclosed which lines will be targeted nor how many jobs may be at risk. Details on which lines will be affected are to be disclosed in Q4, Thomas Geust, Chief Financial Officer at Huhtamaki, tells PackagingInsights.
