REG - Alumasc Group Plc - COVID-19 Update

AlumascAnnouncement

01/04/2020 15:50

RNS Number : 4668I
  
Alumasc Group PLC
  
01 April 2020
  
 

1 April 2020
 
THE ALUMASC GROUP PLC
("ALUMASC")
 COVID-19 Update
 
Alumasc, the premium building products, systems and solutions group, is today providing an update on the impact of the spread of the COVID-19 virus on its business and the measures it is taking to mitigate the risks presented by this situation.
The Board's priority is to safeguard the welfare of our workforce, customers and suppliers and the Group is following Government guidelines on operating safely in these conditions.
Operations
Further to the update on 27 March, we have taken the decision to temporarily close our Burton Latimer and Halstead sites (AWMS and Wade), as part of our wider cost saving measures. This follows further construction customers closing their sites, and is currently anticipated to last for a three-week period, with planned re-opening on 22 April and 23 April respectively. Our Gatic covers, Rainclear and Building Envelope businesses remain open and operating as normal to reflect current demand.
The majority of our employees at our closed locations are being furloughed under the Government COVID-19 Job Retention Scheme, providing immediate cost saving benefits. We are also in the process of implementing additional cash preservation measures and will update the market accordingly in due course.
Enquiries:




Paul Hooper, CEO
Helen Ashton, Group Company Secretary                 


+ 44 (0) 1536 383844
+ 44 (0) 1536 383812




 
Peel Hunt (Broker)                                                        
Mike Bell                                                                                         + 44 (0) 207 418 8831
 
FinnCap (NOMAD)
Julian Blunt                                                                                     + 44 (0) 207 220 0561                                                 
 
Camarco:
Ginny Pulbrook                                                                              + 44 (0) 203 757 4992
Tom Huddart                                                                                  + 44 (0) 203 757 4991
                                                                                                          Email: alumasc@camarco.co.uk
 
 
 
Notes to Editors:
Alumasc is a UK-based supplier of premium building products, systems and solutions. Almost 80% of group sales are driven by building regulations and specifications (architects and structural engineers) because of the performance characteristics offered.
 
The Group has three business segments with strong positions and brands in their individual markets. The three segments are: Building Envelope; Water Management; and Housebuilding Products.
 


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