Brief: Tornado Global Hydrovacs Responds To Covid-19 Pandemic

Tornado Infrastructure Equipment

09/04/2020 13:54

April 9 (Reuters) - Tornado Global Hydrovacs Ltd  TGH.V :
    * TORNADO GLOBAL HYDROVACS RESPONDS TO COVID-19 PANDEMIC
    * TORNADO GLOBAL HYDROVACS LTD - HAS REDUCED TRUCK
PRODUCTION AND
PUT IN PLACE AN AGGRESSIVE PROGRAM TO CONSERVE CASH
    * TORNADO GLOBAL HYDROVACS - WAS OUTSOURCING APPROXIMATELY
1/3 OF
ITS PRODUCTION BEFORE PANDEMIC AND THIS HAS BEEN DISCONTINUED
ENTIRELY
    * TORNADO GLOBAL HYDROVACS - PRODUCTION AT CO'S
MANUFACTURING
FACILITY IN STETTLER HAS ALSO BEEN REDUCED BY ABOUT 60% FOR NEXT
THREE MONTHS
    * TORNADO GLOBAL HYDROVACS - EFFECTIVE APRIL 8,
APPROXIMATELY 65%
OF COMPANY'S EMPLOYEES WERE TEMPORARILY LAID OFF
    * TORNADO GLOBAL HYDROVACS - CEO, CFO, 2 OTHER HEAD OFFICE
EMPLOYEES HAVE TAKEN A SIGNIFICANT SALARY REDUCTION
    * TORNADO GLOBAL HYDROVACS LTD - SERVICE AND PARTS TEAM ARE
EXPECTED TO REMAIN UNAFFECTED

Source text for Eikon:  ID:nGNX48PcDS 
Further company coverage:  TGH.V 

 ((Reuters.Briefs@thomsonreuters.com;))