Wacker Neuson SE: COVID-19: Production plants of the Wacker Neuson Group bring forward plant holidays and apply for short-time work
DGAP-News: Wacker Neuson SE / Key word(s): Miscellaneous
COVID-19: Production plants of the Wacker Neuson Group bring forward plant holidays and apply for short-time work
Munich, March 19, 2020 - The global spread of the coronavirus has significant consequences on public life and the economy. States and institutions are imposing increasingly drastic protective measures. In light of the increasing impacts on the Group's supply chains and against the background of the cautious guidance compared to the financial results of the previous year, the production programs will be reduced starting end of this week and plant holidays planned for the summer will be brought forward at certain plants. Further, the Group will implement various models of short-time work. The extent of the production cutbacks will then be tailored to the conditions of the markets and the supply chains.
The sale of machines and services for the construction and agricultural industries will be sustained, as far as permitted by the local conditions. To date, the Wacker Neuson Group has a high level of inventory of machines and spare parts at its disposal, through which a considerable degree of supply capability is secured. Nevertheless, there will be partial delays in delivery due to the significant restrictions in logistic chains.
The Group's Chinese location Pinghu has resumed its activities in the meantime. The procedures regarding procurement, production and sales are increasingly normalizing.
The Wacker Neuson Group will inform about the further developments in due time.
The Wacker Neuson Group is an international family of companies and a leading manufacturer of light and compact equipment with over 50 affiliates and 150 sales and service stations. The Group offers its customers a broad portfolio of products, a wide range of services and an efficient spare parts service. The product brands Wacker Neuson, Kramer and Weidemann belong to the Wacker Neuson Group. Wacker Neuson is the partner of choice among professional users in construction, gardening, landscaping and agriculture, among municipal bodies and recycling companies as well as rail transport and industrial enterprises. In 2019, the Group achieved revenue of EUR 1.9 billion, employing more than 6,000 people worldwide. Wacker Neuson SE shares are listed on the regulated Prime Standard segment of the Frankfurt Stock Exchange (ISIN: DE000WACK012, WKN: WACK01) and the SDAX index of the German stock exchange.
|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 (0)89 354 02 - 298|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1001867|
|End of News||DGAP News Service|