Hörmann Industries GmbH
HÖRMANN Industries GmbH: Interruption of production at the German plants of the Automotive and Services divisions
DGAP-News: Hörmann Industries GmbH
/ Key word(s): Miscellaneous/Bond
HÖRMANN Industries GmbH: Interruption of production at the German plants of the Automotive and Services divisions
The HÖRMANN Group is thus responding to the rapid spread of the corona virus COVID-19 and the associated, recently announced production stops of its customers in the Automotive and Services divisions, primarily large European car and commercial vehicle manufacturers. This ensures the protection of employees, since measures to reduce the risk of transmission, such as working from home, can only be implemented to a limited extent in the Automotive and Services plants. Through the implementation of various flexible measures, operations in the Engineering and Communication divisions, with the exception of the Austrian sites, can still be maintained to date, although impending material shortages, transport difficulties as well as insufficient personnel availability may affect productivity. For the HÖRMANN – as for many other companies in the European industry – the effects of the pandemic will have an impact on the financial and earnings position which cannot be quantified at the present. The Group’s management hopes to be able to provide a reliable forecast for the current 2020 financial year with the publication of the 2019 Annual Report at the end of April. A variety of measures are currently being taken to minimise the negative effects as far as possible. The HÖRMANN Group is convinced that it can overcome the crisis with the help of its strong, broadly diversified group as well as its secured financing structure. Contact: Financial and business press:
20.03.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |