Brief: NORBIT Issues Operational Update

Norbit ASA

30/03/2020 08:32

Mar 30 (Reuters) - Norbit ASA  NORBIT.OL :
    * SAID ON FRIDAY PROVIDES BUSINESS UPDATE FOR IMPLICATIONS
OF
CORONA PANDEMIC (COVID-19) ON CO'S OPERATIONS
    * IN REPORT FOR Q4 2019, CO ANNOUNCED LOWER VISIBILITY IN
CUSTOMER
ORDERS FROM EUROPEAN AUTOMOTIVE INDUSTRY
    * SINCE THEN, SEVERAL OF LARGEST EUROPEAN TRUCK
MANUFACTURERS, FOR
EXAMPLE VOLVO, ANNOUNCED TEMPORARY CLOSURE OF SEVERAL OF ITS
PRODUCTION FACILITIES
    * SOME CUSTOMER ORDERS ARE POSTPONED OR REDUCED IN ALL
BUSINESS
SEGMENTS
    * UNCERTAINTY RELATED TO THE MEDIUM-TERM OUTLOOK HAS
INCREASED
    * DUE TO RESTRICTIONS IMPOSED BY NATIONAL AUTHORITIES, CO
EXPERIENCES DELAYS IN IMPORT OF COMPONENTS AND EXPORT OF GOODS
    * HAS SO FAR BEEN ABLE TO MAINTAIN PRODUCTION AT FACILITIES
IN
RØROS AND SELBU

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