Brief: Nexteer Automotive Group Announces United Auto Workers Union Strike Impact

Nexteer Automotive

25/10/2023 24:45

Oct 25 (Reuters) - Nexteer Automotive Group Ltd
 1316.HK :
    * UNITED AUTO WORKERS UNION STRIKE IMPACT
    * 3 LARGEST CUSTOMERS, GENERAL MOTORS, FORD & STELLANTIS
NEGOTIATING RENEWAL OF COLLECTIVE BARGAINING AGREEMENTS WITH UAW
    * CERTAIN PROGRAMS AT GROUP'S NORTH AMERICAN FACILITIES HAVE
BEEN
IMPACTED SINCE SEPTEMBER 15
    * MAJORITY OF GROUP'S REVENUE IN NORTH AMERICAN SEGMENT COME
FROM
THE 3 CUSTOMERS
    * UNCERTAIN WHETHER LOST PRODUCTION VOLUME CAN BE FULLY
RECOVERED
IN NORTH AMERICA
    * GROUP'S NON-NORTH AMERICA MANUFACTURING FACILITIES HAVE
NOT BEEN
MATERIALLY IMPACTED BY THESE LABOR INTERRUPTIONS
    * CANNOT ACCURATELY ESTIMATE DURATION OF STRIKES OR IMPACT
OF
STRIKES ON ITS POTENTIAL EARNINGS

Source text for Eikon:  ID:nHKS33DDLX 
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