Dec 7 (Reuters) - Scandinavian Tobacco Group A/S ::REG-SCANDINAVIAN TOBACCO GROUP A/S: CHANGES TO THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT.SAYS BOARD WILL REVIEW ITS COMPOSITION AHEAD OF 2018 ANNUAL GENERAL MEETING..-BOARD HAS DECIDED TO REDUCE NUMBER OF MEMBERS OF REGISTERED EXECUTIVE MANAGEMENT FROM 4 TO 2 EFFECTIVE JANUARY 1, 2018.
Scandinavian Tobacco Group A/S : Says accelerates optimisation and efficiency programme by 1 year . Plans to accelerate cost savings . Intends to reduce number of production sites in group from 14 to 12 . To close down factories in Nykøbing Falster, Denmark, and Wuustwezel, Belgium . Intends to achieve planned cost savings of 140 million Danish crowns ($21.07 million) annual in run rate compared to 2014 on a like-for-like basis by end of 2017 . Working capital reduction target of 500 million crowns by end of 2018 compared to end of 2014 remains unchanged . Intended close down of two factories will result in impairments costs of about 65 million crowns .Says announcement has no impact on company's financial guidance for 2016.
Alliance One International Inc : Alliance One International reports improved gross profit and gross profit as percentage of sales in fiscal year 2017 first quarter results . Q1 sales fell 2 percent to $261.1 million . Q1 loss per share $3.54 . Restructuring program on track to deliver over $35.0 million of anticipated recurring annualized savings . Approximately 95.0% of restructuring actions enacted and remainder to be achieved over next 15 months . "anticipate reducing long-term debt by $35.0-$50.0 million per year" .During quarter "we experienced approximately $3.6 million of legal and professional costs associated with kenya matter".
Pobis TNC Co., Ltd <016670.KQ>: Says its unit DMOA will merge with another unit TECHGROUP at ratio of 1 : 18.1076045 . Says TECHGROUP will be dissolved after the merger .Says expected transaction settlement is Aug. 26.
Universal Corp : Universal corporation announces change in Hungarian operations . Subsidiary discontinue processing of leaf tobaccos in factory in Nyíregyháza, Hungary effective immediately . Universal will concentrate processing of Hungarian tobaccos in its facilities in Italy .Hungary management has reached agreement with affected employees and their representatives for a planned settlement to.
British American Tobacco Malaysia Bhd:Co will restructure its business operations in Malaysia.Restructure by sourcing tobacco products for domestic market from other British American tobacco group factories regionally.