Feintool expects temporary production decline as a result of the corona crisis.
Measures taken by the national health authorities to contain the coronavirus are resulting in the temporary closure of car manufacturers plants in Europe and the US. As a part of the supply chain and in order to ensure the employees safety, Feintool may be forced to take the same step corresponding to customers’ releases decline.
Knut Zimmer, CEO and Head of System Parts Segment, says: “Due to the strained demand situation at our customers, Feintool expects temporary delivery and sales decline for Europe and the US. We are closely monitoring the developments around the coronavirus and its impact on society and industry. Feintool is flexibly adapting its capacities to customer releases. We are convinced that these measures correspond with our employees’ steadily growing concerns about the coronavirus.”
The overall impact on sales and results cannot be estimated at this moment. Therefore, Feintool is refraining from issuing a guidance for the current 2020 financial year until further notice.