Facc Axes Dividend, Re: evaluates Croatia investment due to coronavirus

FACC AG

25/03/2020 07:19

VIENNA, March 25 (Reuters) - Plane parts maker FACC
 FACC.VI  said on Tuesday it would not pay a dividend for last
year and re-evaluate its 33 million euro  ($36 million) project
in Croatia as part of a package to deal with falling demand due
to the coronavirus spread.  
    "The impact on the Group's earnings for 2020 and at least
also in 2021 is currently difficult to assess," the Austrian
group, owned by China's AVIC  000768.SZ , said with regard to
the virus.
    "From today's perspective, management assumes that a serious
market assessment will not be possible until mid-2020."
    ($1 = 0.9242 euros)

 (Reporting by Kirsti Knolle; editing by Thomas Seythal)
 ((kirsti.knolle@thomsonreuters.com; +43 1 2530 1650 13;))