BAT's restructuring operation in Malaysia to affect some 230 workers
The stock price closed higher at RM55.32 per share, as of Thursday.
British American Tobacco (Malaysia) Bhd (BAT), will undergo restructuring in operations and will source tobacco products for the domestic market from other BAT group factories regionally.
BAT told Bursa Malaysia Thursday that the restructuring process will include the shut down of Virginia Park factory in Petaling Jaya, Selangor.
According to BAT, this process will affect about 230 employees, who will be provided with a benefits package as well as the option to undergo a career-transition programme.
The company's wholly-owned subsidiary Tobacco Importers and Manufacturers Sdn Bhd will be shutting down its factory in stages with completion by the second half of 2017.
The tobacco firm's products include Dunhill, Peter Stuyvesant, Pall Mall and Benson & Hedges.
The stock price closed higher at RM55.32 per share, as of Thursday.
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