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BRIEF-Pro-Pac Packaging Says Co Expects Full Year EBITDA Before Significant Items Of Around $30 Mln

Published 27/05/2020, 10:33 am

May 27 (Reuters) - Pro-Pac Packaging Ltd PPG.AX :

* EXPECTS FULL YEAR EBITDA 1, BEFORE SIGNIFICANT ITEMS OF AROUND $30 MILLION

* NET DEBT POSITION AT 30 JUNE EXPECTED TO BE AROUND $60M

* WILL RELOCATE PRODUCTION FROM ITS CHESTER HILL FACILITY IN SYDNEY

* MANUFACTURING AT CHESTER HILL SITE WILL BE PHASED OUT FROM AUGUST

* NON-CASH ASSET WRITE-OFFS ACROSS PROJECT WILL BE CIRCA $4.0 MILLION

* PROJECT WILL RESULT IN ANNUALISED BENEFITS OF AROUND $7.0 MILLION FROM FY22

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