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BRIEF-American Superconductor Corp plans to reduce operating costs, align organization for anticipated Grid segment growth
April 4, 2017 / 4:21 PM / 8 months ago

BRIEF-American Superconductor Corp plans to reduce operating costs, align organization for anticipated Grid segment growth

April 4 (Reuters) - American Superconductor Corp

* American Superconductor Corp - plans to reduce operating costs and align organization for anticipated Grid segment growth

* American Superconductor Corp - intends to focus on optimizing manufacturing capacity requirements of company, as well as aligning headcount

* American Superconductor - currently exploring options for moving manufacturing, administrative operations at devens, to nearby, smaller-scale building

* American Superconductor-expects to reduce annualized expenses by about $4 - $5 million once savings are realized,which is expected to occur by end of fy 2017

* American Superconductor - anticipates to incur cash-related restructuring charges of about $1.5- $2 million for severance-related costs in quarter ending june 30 Source text for Eikon: Further company coverage:

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