Corteva Expects To Record Total Pre-tax Restructuring And Asset Related Charges Of $410M-$460M Through 2024 For Network Optimization
Portfolio Pulse from Benzinga Newsdesk
Corteva has announced a plan to optimize its Crop Protection network of manufacturing facilities and external partners. This includes exiting production activities at its site in Pittsburg, California, and ceasing operations in select manufacturing lines at other locations. The company expects to record total pre-tax restructuring and asset-related charges of $410M-$460M through 2024.
November 08, 2023 | 9:44 pm
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Corteva's restructuring plan may lead to short-term financial strain due to the expected pre-tax charges of $410M-$460M. However, the optimization could potentially improve operational efficiency in the long run.
The restructuring plan announced by Corteva is expected to lead to significant pre-tax charges, which could negatively impact the company's financial performance in the short term. However, the aim of the plan is to optimize the company's manufacturing network, which could potentially lead to improved operational efficiency and cost savings in the long run.
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