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Oatly Group ( (OTLY) ) has shared an update.
Oatly Group announced the closure of its Singapore facility as part of its asset-light supply chain strategy, aiming to improve cost structure and reduce capital expenditure. This strategic move is expected to increase capacity utilization in their European facilities and enhance the company’s ability to achieve profitable growth by simplifying operations and focusing on execution. The closure will incur significant non-cash impairment charges and restructuring costs, but is anticipated to strengthen Oatly’s market positioning in the Asia-Pacific region.
More about Oatly Group
Oatly Group AB is the world’s original and largest oat drink company, headquartered in Malmö, Sweden. For over 25 years, the company has focused exclusively on oats, a crop known for its sustainability and health benefits, to develop a range of dairy alternative products including milk, ice cream, yogurt, cooking creams, and spreads. The Oatly brand is available in over 20 countries globally.
YTD Price Performance: -43.14%
Average Trading Volume: 2,976,777
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $391.5M
See more insights into OTLY stock on TipRanks’ Stock Analysis page.