May 7, 2020 / 10:08 PM / 22 days ago

BRIEF-Scott Technology Says Resolved Not To Pay Interim Dividend For Year Ended 31 Aug 2020

May 8 (Reuters) - Scott Technology Ltd:

* SCOTT TECHNOLOGY LTD - LONGER TERM OUTLOOK FOR COMPANY REMAINS POSITIVE

* SCOTT TECHNOLOGY LTD - COVID-19 WILL HAVE A MATERIAL IMPACT ON FY20 RESULTS

* SCOTT TECHNOLOGY LTD- RESOLVED NOT TO PAY AN INTERIM DIVIDEND FOR YEAR ENDED 31 AUGUST 2020

* SCOTT TECHNOLOGY - TRANSITIONING TO STREAMLINED, REGIONALLY FOCUSED BUSINESS MODEL WITH 4 REGIONS

* SCOTT TECHNOLOGY - BUSINESS & WORKFORCE TO BE RIGHT-SIZED FOR NEW STRATEGY & OPERATING ENVIRONMENT

* SCOTT TECHNOLOGY- NEW PROJECTS WHICH WERE UNDERWAY PRIOR TO COVID-19 ARE RECOMMENCING, ALTHOUGH THERE MAY BE SOME DEFERRAL OF TIMING

* SCOTT TECHNOLOGY - NEW STRATEGY TO INCLUDE CONSOLIDATION OR CLOSURE OF NUMBER OF FACILITIES INCLUDING CLOSURE OF KÜRNBACH FACILITY IN GERMANY

* SCOTT TECHNOLOGY - RESTRUCTURING TO INCLUDE PROPOSED CONSOLIDATION OF MELBOURNE MANUFACTURING INTO SYDNEY PLANT, CLOSURE OF BRISBANE OFFICE

* SCOTT TECHNOLOGY- HY REVENUE NZ$101.8M, HY NET LOSS AFTER TAX NZ$13.7 MILLION

* SCOTT TECHNOLOGY- WILL ALSO COMMENCE A SALES PROCESS FOR NICHE HIGH TEMPERATURE SUPER CONDUCTING BUSINESS IN WELLINGTON Source text for Eikon: Further company coverage:

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