Watts Water Technologies Announces Restructuring Program in France

Watts Water Technologies, Inc. (NYSE:WTS) revealed in an SEC filing on February 3, 2025, that its Board of Directors has greenlit a restructuring initiative concerning its operating facility in Hautvillers-Ouville, France. The program is set to encompass the closure of the foundry at the manufacturing facility in Hautvillers-Ouville, France, with plans to relocate other production activities mainly to the company’s facilities in France and various sites across Europe.

The restructuring is projected to incur pre-tax charges of around $22 million, covering expenses for severance, relocation, facility shutdown, cleanup, and specific asset write-downs. It is expected to lead to the reduction of roughly 96 positions at the Hautvillers-Ouville, France facility, with the majority of program costs allocated to severance estimated at approximately $18 million. Following the facility consolidations, around 68 positions in France are anticipated to be eliminated.

The total net after-tax charges for the restructuring program are forecasted to be approximately $16 million, with insignificant non-cash charges. The expenses will be phased out through the completion of the program in 2026, totaling expenditures of about $1 million for operational consolidations. It is projected that annual pre-tax savings will amount to approximately $3 million, with the company anticipating the full realization of these savings by the culmination of 2026.

The company anticipates completing the restructuring program by the end of 2026, aiming for operational efficiency gains through facility consolidations and staff reductions in France.

The 8-K filing was duly signed on February 7, 2025, by Kenneth R. Lepage, General Counsel, Chief Sustainability Officer, Chief Compliance Officer, and Secretary of Watts Water Technologies, Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Watts Water Technologies’s 8K filing here.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.