Picanol Temporarily Suspending Production

In light of the latest developments concerning the global spread of COVID-19, the Picanol Group will temporarily suspend production at its plant in Ieper, Belgium (segment: Machines & Technologies). The group will continue parts and supplies that are necessary for customer service and critical supply chains for OEM customers.
Based on the present circumstances, the group anticipates that it may take some time for production activities to become fully operational again. As it is exactly unclear when production activities will be relaunched, the group is currently unable to give any indication of the financial impact of this disruption on its production.
Based on the recommendations from the WHO and relevant local authorities, the Picanol Group has already taken a comprehensive set of health and safety initiatives in order to protect its employees and others from the disease and keep its plants and its businesses running as normal. These include precautionary measures for all employees, specific travel guidelines for all business-related travel and additional safety measures at its sites.