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Nufarm Limited (ASX:NUF) has flagged up to 59 job losses as a result of the planned shut-down of its manufacturing plant in New Zealand over the next two years.
Less than one month after announcing the review of its New Zealand operations the company has outlined more plans to streamline its business.
The agricultural chemicals supplier is also gearing up to further consolidate regional manufacturing activity at its existing facilities in Victoria.
Nufarm says the sale of its New Zealand site could eventually generate up to $10 million for the company.
Nufarm will book an $11 million charge for restructuring costs this year, taking the total restructuring costs in Australia and New Zealand to $50 million.
Nufarm reported a net profit of $18.8 million in the first half of the 2014 financial year.
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