28 Oct 2014 14:00
Low and Bonar Plc
Commencement of Consultation Process
As part of the ongoing actions being taken to improve the performance of the Bonar Yarns business unit, Low & Bonar today announces its intention to relocate part of the Bonar Yarns production from Dundee to Abu Dhabi.
This has resulted in the commencement of a formal consultation process with employee representatives on the site, which is expected to affect up to 68 jobs.
Further announcements will be made as appropriate.
Brett Simpson, Chief Executive of Low & Bonar, said:
"We know that this will be a period of uncertainty for our staff at Dundee and we are committed to consulting fully with our employees and their representatives. We do believe however that the restructuring of our workforce is necessary to help us secure the long-term viability and competitiveness of Bonar Yarns in a highly competitive global marketplace."
28 October 2014
ENQUIRIES
For further information, please contact:
Low and Bonar 020 7535 3180
Brett Simpson
Peel Hunt 020 7418 8900
Charles Batten
Instinctif Partners 020 7457 2020
Matthew Smallwood
Helen Tarbet