REG - Hyundai Motor Co - Work Stoppage

Hyundai Motor CoAnnouncement

07/02/2020 07:03

RNS Number : 2753C
Hyundai Motor Company
07 February 2020
 


 
HYUNDAI MOTOR COMPANY (HMC)
Corporate Disclosure to Korea Stock Exchange
 
Disclosure title            : Work Stoppage
 
1. Location of Work Stoppage:

- Hyundai Ulsan Plant etc.
 
2. Sales revenue of work stoppage business:

              a) Sales revenue impacted by work stoppage (a): KRW 43,160,108,000,000
              b) Total sales revenue of the company (b): KRW 96,812,609,000,000
              c) Sales revenue portion impacted by work stoppage(c=a/b): 44.58%
              d) Applicability as a large-scale corporation: Yes
 
3. Areas of work stoppage: Manufacturing of vehicles
 
4. Reason of work stoppage: Supply chain disruption in china due to extension of Chinese new year holiday by Chinese government to prevent further widespread of the new Corona virus
 
5. Countermeasures of work stoppage:

- Increase of supply from domestic and South-east Asian suppliers
- Minimize supply lead time when vendors located in China resume their operation
 
6. Impacts of work stoppage: Partial disruption of production for all models.
 
7. Date (and period) of Work Stoppage:
From February 7, 2020
 
8. Expected date of operation resumption: -
 
9. Decision Date of Work Stoppage: February 7, 2020

 
10. Others:
- The Sales revenue impacted by work stoppage in #2-a (Sales revenue impacted by work stoppage) is based on parent sales revenue in FY2018 and #2-b (Total sales revenue of the company) is based on consolidated sales revenue in FY2018.
- The date and period of work stoppage in #7 is only for Ulsan and Asan Plant. Work stoppage of Jeonju Plant will start from February 10. The date of work stoppage may be subject to change depending on the Hyundai Motor Company's internal situation.
- The expected date of operation resumption is depending on the supply of components.
- The decision date of work stoppage in #9 is the start date of work stoppage, and aforementioned date in #7 and #9 are Korea Standard Time.
- The above contents may be subject to change depending on the Hyundai Motor Company's internal situation.




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