Hunting (HTG): EMEA restructuring

This situation live

£594m · 404.0p · +23% since the first step

Turnaround plan with targets

EMEA restructuring

Near completion; Fordoun closing September

JAN1 Next: Fordoun closure in September; International segment from January 2027 in 69 days

Every step · 6

23 Oct 2025 Netherlands and Norway closed; Dubai facility opened – EMEA restructuring continuing, with management on track to deliver annualised cost savings of c.$11 million by June 2026. ↗
13 Jan 2026 Losses narrowing; break-even in December 2025 – The EMEA operating segment expects to report narrowing losses in the year and recorded a break-even result in December 2025. ↗
5 Mar 2026 Savings of c.$11m annualised; Fordoun closure due June 2026 – Progress on the restructuring of the EMEA operating segment - annualised savings of c.$11m, after closure of Fordoun, Aberdeen, operating site, in June 2026. ↗
15 Apr 2026 On track; cost programme accelerating, segments to merge – The restructuring of the EMEA operating segment continues, with the closure of the Fordoun operating site on track for June 2026. ↗
15 Jul 2026 Aberdeen OCTG moving to Badentoy; Fordoun closing – Ongoing restructuring of EMEA operating segment with OCTG operations in Aberdeen now being transferred to the Badentoy operating site, with the Fordoun site... ↗
21 Aug 2026 Near completion; Fordoun closing September – The Group's planned restructuring of its EMEA operating segment is near completion, with facilities in the Netherlands and Norway closed and the Fordoun, UK... ↗

What is happening

Hunting: EMEA restructuring – Near completion; Fordoun closing September. ['Near completion; Fordoun closing September']

In short: The EMEA restructuring began in 2025. On 21 Aug 2026 Hunting said the Netherlands and Norway sites are closed and Fordoun closes in September, later than the June date first given. c.$11m annualised savings are captured and EMEA should return to profit from H2 2026. EMEA and Asia Pacific merge into International from January 2027.
Announced: 23 Oct 2025 · Netherlands and Norway closed; Dubai facility opened
Latest: 21 Aug 2026 · Near completion; Fordoun closing September
Cost programme: $15 million, majority of savings by early 2028
Shared services: Europe and North America fully operational by mid-2026
Segment merger: EMEA and Asia Pacific become International from January 2027
Aberdeen OCTG: Being transferred to Badentoy operating site
Cost savings: $15 million p.a. Group-wide, on track for delivery 2026 to 2027
Savings captured: c.$11m annualised
Segment result: EMEA back to profitability from H2 2026
Group programme: $15m cost savings on track for delivery by end of 2027

Fordoun closure in September; International segment from January 2027 (1 Jan 2027).

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

Also at Hunting 4 open