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BRIEF-Brambles intends to divest recycled pallets business in North America

Published 11/08/2017, 09:54 am
Updated 11/08/2017, 10:00 am
BRIEF-Brambles intends to divest recycled pallets business in North America
BXB
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Aug 11 (Reuters) - Brambles Ltd BXB.AX :

* To declare a US$243.8 million non-cash impairment of CHEP recycled assets

* Non-cash impairment of chep will be recognised in FY17 accounts as a significant item in discontinued operations

* As part of transaction, approximately 2,200 employees who work for CHEP sites will transfer to new ownership on completion of sale

* Announces its intention to divest recycled pallets business in North America

* 1,400 employees will remain with group to manage American sites

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