March 19, 2019 / 7:45 AM / 3 months ago

Schoeller-Bleckmann to shift production capacity from Mexico and Britain

VIENNA, March 19 (Reuters) - Oilfield equipment producer Schoeller-Bleckmann (SBO) said it will close production sites in Mexico and Britain and relocate the capacities of these sites to Vietnam, Austria and the United States in a move to become more efficient.

SBO, which reported its first full-year net profit in four years on Tuesday, said it expected its international business to continue its growth trend in 2019.

Its North American business, which generates more than half of revenue, “should at least show stability based on the activity figures at the beginning of the year”, the group said in its annual report. (Reporting by Kirsti Knolle Editing by Riham Alkousaa)

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