MyEco Group (ASX:MCO) said that as part of its operational restructuring initiatives, it reduced fixed costs by consolidating three manufacturing plants into a global manufacturing plant in Nanjing, China, that produces resin, film, and bags, according to a Tuesday Australian bourse filing.
It also reduced costs from the rationalization of manufacturing assets in Malaysia and the relocation of larger pilot production equipment from Melbourne to the commercial plant in Nanjing to reduce costs for new product trials.
The initiatives, which are expected to be completed by June, are expected to deliver around AU$2.5 million to AU$3 million in reduction in fixed cost, beginning in the first quarter of fiscal 2026.
The firm will recognize one-off costs of around AU$700,000 to implement the restructuring in the current fiscal year.
Its shares jumped over 12% in recent trading on Tuesday.
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