Brief: Tekna Updates On Machine And Capacity Improvement Program

Tekna Holding ASA

03/10/2022 06:07

Oct 3 (Reuters) - Tekna Holding ASA  TEKNA.OL :
    * TEKNA PROVIDES UPDATE ON MACHINE AND CAPACITY IMPROVEMENT
PROGRAM
    * CAPACITY IMPROVEMENT PROGRAMME IS ONGOING AND MACHINES ARE
BEING
UPGRADED STEP BY STEP AND ONE AT A TIME
    * OUTPUT IS CONSISTENTLY INCREASING, BUT AT A SLOWER PACE
THAN
PLANNED TOWARDS TARGET OF 70% INCREASE
    * ADDITIONAL DEVELOPMENT WORK IS ONGOING TO CONFIRM IT. THIS
WILL
DELAY SCHEDULE AND TARGET OF A 70% INCREASE IN OUTPUT WILL NOT
BE REACHED BY END OF 2022 AS PREVIOUSLY COMMUNICATED
    * UPDATED OBJECTIVE IS TO REACH STATED TARGET BY END OF Q1
2023
    * THIS WILL RESULT IN A DELAYED INCREASE IN SALES REVENUES
FOR
ADVANCED MATERIALS, WHICH IN SECOND HALF OF 2022 IS EXPECTED TO
BE APPROXIMATELY AT SAME LEVEL AS IN SECOND HALF OF 2021
    * FULL EFFECT OF OUTPUT INCREASE WILL NOT BE REFLECTED IN
SALES
REVENUES UNTIL ALL MACHINES ARE UPGRADED TO NEW LEVEL.

Source text for Eikon:  ID:nObi73vcHa 
Further company coverage:  TEKNA.OL 
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