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BRIEF-Nanoco decides to divest solar business
August 25, 2017 / 6:18 AM / a month ago

BRIEF-Nanoco decides to divest solar business

Aug 25 (Reuters) - NANOCO GROUP PLC:

* ‍RECENTLY ANNOUNCED LEGISLATION IN EUROPE, BANNING USE OF CADMIUM IN DISPLAYS FROM OCTOBER 2019, MAY BE EXPECTED TO ACCELERATE MOVE TO CFQDS​

* ‍BOARD HAS DECIDED THAT SOLAR BUSINESS IS NON-CORE AND HAS COMMENCED PROCESS TO DIVEST THAT BUSINESS​

* ‍DUE TO CHANGES IN COMMERCIALISATION STRATEGY AND CONTINUED PRUDENT CASH MANAGEMENT, STAFF NUMBERS HAVE BEEN REDUCED TO C.80​

* ‍EXPECTS TO ANNOUNCE FURTHER ORDERS FROM ITS HEALTHY PIPELINE OF PROJECTS​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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