This could be a secret of sorts.It says they allowed for it last...

This could be a secret of sorts.It says they allowed for it last year already.It might be tucked away.But the previous statement by Glen Casey that said the profit increase for the second half of 2006FY had been locked in is probably refering to this & possibly other things.It is convenient that the firm in Malaysia has the same name!
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6 February 2006
ACN 95 009 375 553
Level 2 564 St Kilda Road Melbourne Victoria 3004 Australia
Phone 61 3 9533 9333
Fax 61 3 9533 9388
A N N O U N C E M E N T
Nylex announces restructure of Industrial Products manufacturing operation
In a positive step for the future of the company, Nylex Limited has announced plans to
restructure its Mentone-based industrial products manufacturing operation. The changes are
essential to enable Nylex to keep pace with cost trends in the films and fabrics markets, to
introduce a range of new products, and to increase the flexibility of product sourcing
decisions.
The restructure will progressively move the Nylex Industrial Products division from a
manufacturing to an outsourced business model. Manufacturing will cease at the Mentone
plant in March 2006. The site will continue to operate as a distribution centre.
The restructure is forecast to deliver savings of approximately $5 million p.a. after the
transition to Asia-Pacific supply arrangements has been concluded, with the major supplier
being Nylex Malaysia (an unrelated entity).
The cost of closure inclusive of redundancies will be approximately $8 million. This expense
was included in the write downs announced in the 2005 financial results.
Nylex is conscious of the impact of this decision on employees at the Mentone site. Nylex will
honour all employees’ entitlements under the Mentone Enterprise Bargaining Agreement, and
will assist with counselling and outplacement services.
Nylex Industrial Products’ Sale plant is to continue to operate as a finishing plant.
Nylex is a market leader in the industrial products industry in Australia, and will continue to
market and sell high-quality industrial plastics products for commercial applications, sourced
from a range of high-quality manufacturers in the Asia-Pacific region.
Glen Casey Brian O’Neil
Managing Director & Chief Executive PRX
(613) 9533 9333 613 9607 4500