Aalberts N.V.: Aalberts update on COVID-19
02 Avril 2020 - 7:30AM
Utrecht, 2 April 2020
In the first quarter COVID-19 had a limited impact on Aalberts’
operations and performance. Luckily, we faced a small amount of
infections amongst the employees of our manufacturing and service
locations till now, due to our preventive safety actions, installed
already beginning of March.
Despite the challenging market circumstances we have been able
to continue the Aalberts operations in Europe and North America.
Our manufacturing locations in APAC have returned to normal
operations. Only a few manufacturing sites were closed temporarily
in Italy and France in line with the directions of authorities.
Shipments to our customers in these countries continued on a lower
level.
Many manufacturing sites of Aalberts have received special
dispensation due to their mission-critical technologies and product
lines. In Germany we have increased our capacity of medical oxygen
pressure regulators and valves for breathing equipment, used in
hospitals, ambulances and home care, to serve our worldwide
customers.
Our diversity in niche technologies, leading market positions,
worldwide presence, strong local entrepreneurship and fast decision
making is really helping us through this difficult market
situation. Like many of our customers and partners, we are
dependent on the developments with respect to measures taken to
control the COVID-19 outbreak around the world.
Due to these developments and uncertain market situation going
forward, Aalberts is anticipating tougher conditions the coming
months and decided to:o reduce capital expenditure only to what is
necessary to maintain our operationso align our operations and
shipments with our customer forecasts and expectations o initiate
additional cost reductions o utilise government aid programs to
manage this expected short-term disruptiono accelerate structural
improvements based on our updated strategy ‘focused acceleration’ o
reduce the salary of the Management Board and Executive Team with
20% for three months, effective 1 April 2020
Aalberts will accelerate the action plan as presented in
December 2019 to evolve into an even stronger and better
Aalberts.
During this COVID-19 outbreak our primary goal is to ensure, as
best as we can, that our employees and their families stay safe and
healthy. Our secondary goal is to ensure the service to our
customers and the continuity of our business together with our
suppliers and partners.
We will continue to monitor the situation closely and provide
more information when necessary.
contact +31 (0)610 006 499 (from 8:00 am
CEST)investors@aalberts.com
Aalberts NV (EU:AALB)
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