Business
Closure of Canadian Manufacturing Facility
Closure of Canadian Manufacturing Facility.
About this update from Hunting Plc
[{"type":"text","content":"\n \n \n RNS Number : 6923V\n Hunting PLC\n 10 August 2020\n \n \n \n \n \n \n \n For Immediate Release\n \n \n \n \n 10 August 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Hunting PLC\n \n \n \n \n \n (\"Hunting\" or \"the Company\" or \"the Group\")\n \n \n \n \n \n Closure of Canadian Manufacturing Facility\n \n \n \n \n \n Hunting PLC (LSE:HTG), the international energy services group, today announces that 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. The facility will cease operations by the end of 2020, with current and future customer requirements to be met by the Group's US operations. \n \n \n \n \n \n The Calgary facility represents the entirety of the Group's Canada operating segment and in the year ended 31 December 2019 generated revenue of $35.7 million and a reported loss from operations of $4.3 million.\n \n \n \n \n \n Hunting will retain a sales presence in Calgary, given its range of premium and semi-premium connections used by customers, and will continue to sell onshore completion products, predominantly manufactured by Hunting Titan, through its network of three distribution centres in Alberta, the results of which will continue to be reported within the Hunting Titan operating segment.\n \n \n \n \n \n The Company will be reporting its 2020 Half Year Results on Thursday 27 August 2020, where further details of this strategic decision will be disclosed.\n \n \n \n \n \n For further information, please contact:\n \n \n \n \n \n \n \n \n Hunting PLC\n \n \n Jim Johnson, Chief Executive\n \n \n Bruce Ferguson, Finance Director\n \n \n Tarryn Riley, Investor Relations\n \n \n \n \n \n \n \n Tel: +44 (0) 20 7321 0123\n \n \n \n \n \n \n Buchanan \n \n \n Ben Romney\n \n \n Chris Judd\n \n \n \n \n Tel: +44 (0) 20 7466 5000\n \n \n \n \n \n \n \n \n Notes to Editors:\n \n \n \n \n \n About Hunting PLC\n \n \n \n \n \n Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Ex...