(Alliance News) - Hunting PLC on Monday said it will close its loss-making Canadian manufacturing facility after the energy services provider reviewed its "operational footprint".
The Calgary, Alberta site will cease operations by the end of 2020, Hunting noted.
The facility generated revenue of USD35.7 million in 2019, but reported a loss of USD4.3 million.
"Following a review of its operational footprint, coupled with an assessment of the future expectations of profitability, the Board has decided to close its manufacturing facility in Calgary, Alberta," Hunting explained.
Hunting shares were 0.8% lower at 181.80 pence each in London on Monday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Hunting (HTG)