VIENNA—Austrian rubber group Semperit A.G. has signaled it intends to shut down additional plants as it continues through what it brands as a "transition year."
The firm said on Aug. 23 that considerable one-off charges were not off the table for the company, which is in the middle of a major transformation project through to 2020.
A company spokesman said those one off charges could include further plant closures.
The company-wide optimization process will cover all Semperit segments, including Sempermed medical unit, Sempertrans conveyor belt manufacturing, Semperform construction materials and Semperflex hose production.
"There are a number of sites we are currently studying but Semperflex's plant in Italy is top priority at this moment," the spokesman said. The investigation, he pointed out, will not necessarily lead to a shutdown.
The Semperflex Roiter plant in Rovigo, Italy produces customized special solutions for individual applications of industrial hoses.
Semperit launched its major restructuring earlier this year in response to weak results last year.
The company disclosed in June that it was shutting down a 120-employee production site for conveyor belts in China as part of the transformation program.
It will also close its Sempertrans' belting plant in Argenteuil, France, with production relocating to the firm's large complex in Belchatow, Poland, which has been expanding its capacity with the addition of new equipment.
Semperit expects to complete the transformation by the end of 2020 and has set a target of 10 percent EBITDA margin post-restructuring.