1st May 2018 13:29
LONDON (Alliance News) - RM2 International SA said Tuesday it has requested the liquidation of its subsidiary in Canada following the winding-down of its manufacturing operations in the country.
The smart pallet maker began winding down its manufacturing operating in 2016. As a result of this process, RM2 had now filed in the Province of Ontario for its indirectly-owned subsidiary - 7636156 Canada Inc - which formerly ran its Canadian operations to be voluntarily liquidated.
RM2 said it continues to review opportunities to improve operational efficiency and reduce operating costs in order to generate positive earnings before interest, taxes, depreciation and amortisation in 2019. The measures include renegotiating the company's footprint in China.
Shares in RM2 were 0.9% higher at 1.64 pence on Tuesday.
Related Shares:
RM2.L