March 13, 2018 / 10:21 AM / 3 months ago

BRIEF-MTS Systems Announces Workforce Reductions & Manufacturing Facility Closures

March 13 (Reuters) - MTS Systems Corp:

* MTS SYSTEMS - ANNOUNCES WORKFORCE REDUCTIONS & MANUFACTURING FACILITY CLOSURES IN TEST SEGMENT RELATING TO TRANSFER OF PRODUCTION OPERATIONS IN CHINA

* MTS SYSTEMS - ACTIONS TO IMPACT 2 TEST CHINA MANUFACTURING FACILITIES WITH NO CHANGES ANTICIPATED IN U.S. OR EUROPEAN OPERATIONS FROM TRANSFER

* MTS SYSTEMS CORP - ‍ANTICIPATES RESTRUCTURING ACTION TO BE COMPLETED BY END OF FISCAL YEAR 2018 WITH MAJORITY OF CASH PAID IN Q4 OF FISCAL YEAR 2018​

* MTS SYSTEMS SAYS ESTIMATES IT WILL INCUR A TOTAL OF ABOUT $3.2 TO $5.2 MILLION OF PRE-TAX RESTRUCTURING EXPENSES RELATED TO ACTION - SEC FILING

* MTS SYSTEMS - WORKFORCE REDUCTIONS & FACILITY CLOSURES IN CHINA RELATE TO TRANSFER OF PRODUCTION OPERATIONS TO CONTRACT MANUFACTURING PARTNER Source: (bit.ly/2p6xyjd) Further company coverage:

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