Patheon Inc. (PTI.TO) to Close UK Plant & Eliminate 91 Jobs
5/9/2012 8:34:26 AM
Patheon has announced plans to reduce the scale and scope of business at its Swindon, UK facility. The move is part of the company's ongoing corporate transformation strategy, which is intended to "enhance capacity utilization, focus capital investments on its core business, and accelerate operational excellence programs to increase efficiency, meet customer needs, and improve its cost structure," according to a Patheon statement. The company plans to take a charge of approximately $50 to $60 million for the impairment of long-term assets at Swindon, to be recorded during the 2Q12.