Exel Composites to downsize UK operations

Exel Composites reportedly plans to downsize its operations in Runcorn, UK. The decision involves 48 employees, the company said.

Currently Exel Composites’ European operations include several small production sites. To improve Group’s efficiency and profitability downsizing of the operations is proposed.

According to Exel, the move could result in around € 1.6 million annual cost savings.

“The downsizing review will follow UK legislation and any resulting changes will be completed to ensure minimal impact on customers,” a press release said.