06:24 AM EST, 12/18/2024 (MT Newswires) -- Oatly Group ( OTLY ) said Wednesday it has shut down its Singapore production site, which was part of its Europe & International segment.

The closure is expected to enhance the company's future cost structure and lower capital expense requirements, Oatly ( OTLY ) added.

The oat drink company anticipates non-cash impairment charges of roughly $20 million to $25 million in Q4, it said, adding that restructuring and other exit expenses will result in $25 million to $30 million of net cash outflows through 2027.