BRIEF-Transpaco Approves Decision To Discontinue Plastic Post-Consumer Recycling Operation

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BRIEF-Transpaco Approves Decision To Discontinue Plastic Post-Consumer Recycling Operation
Credit: © Reuters.

Oct 3 (Reuters) - Transpaco Ltd TPCJ.J :

* JSE: TPC - DISCONTINUED OPERATION

* TRANSPACO - ON SEPT 30 BOARD APPROVED DECISION TO DISCONTINUE PLASTIC POST-CONSUMER RECYCLING OPERATION CARRIED OUT BY TRANSPACO RECYCLING LTD

* TRANSPACO - SELLING PRICE LEVELS RESTRICTED DUE TO PREVAILING VIRGIN POLYMER PRICES WHILE ENERGY, LABOUR AND DISTRIBUTION COSTS KEEP RISING

* TRANSPACO LTD - DISCONTINUED OPERATIONS NOT ANTICIPATED TO HAVE MATERIAL IMPACT ON FINANCIAL POSITION OF CO

* TRANSPACO - WITH NO LIKELIHOOD OF PRICING SITUATION IMPROVING IN SHORT- TO MEDIUM-TERM, BOARD DECIDED TO DISCONTINUE OPERATION WITHIN CURRENT FY

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