Ontex Group N.V. (GB:0QVQ) has released an update.
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Ontex Group NV/SA is set to restructure its Belgian operations, with plans to close its Eeklo site and invest approximately 40 million euros to transform its Buggenhout location into a research and production center of excellence for incontinence products. The move aims to sharpen Ontex’s competitive edge in Europe and will affect up to 489 jobs across the two sites. The company is engaging with works councils and promises support for all employees impacted by the changes.
For further insights into GB:0QVQ stock, check out TipRanks’ Stock Analysis page.
