March 24, 2020 / 6:53 AM / 9 days ago

BRIEF-Compagnie Plastic Omnium To Shut Own Production Centers, European Factories

March 24 (Reuters) - COMPAGNIE PLASTIC OMNIUM SA:

* IS IMPLEMENTING ALL MEASURES TO PROTECT THE GROUP’S 32,000 EMPLOYEES, ENSURE THE CONTINUITY OF ITS OPERATIONS BY LIAISING CLOSELY WITH CUSTOMERS, AND MAINTAIN THE ROBUSTNESS OF ITS FINANCIAL STRUCTURE

* PLASTIC OMNIUM IS FORCED TO CLOSE ITS OWN PRODUCTION CENTERS

* THE NORTH AND SOUTH AMERICAN PLANTS, ALSO IMPACTED BY CLIENT SHUTDOWNS, WILL STOP OPERATING IN THE COMING DAYS

* THE GROUP WILL PROVIDE AN UPDATE ON ITS SITUATION WHEN RELEASING ITS Q1 SALES, ON APRIL 21, 2020, ONCE WE HAVE A BETTER OUTLOOK ON THE AUTOMOTIVE MARKET EVOLUTION

* PARTIAL UNEMPLOYMENT MEASURES ARE BEING PUT IN PLACE IN EUROPEAN AND AMERICAN PLANTS

* ON CORONAVIRUS: HAS UNDERTAKEN STRESS TESTS CONCERNING ITS CASH IN THE EVENT OF THE PANDEMIC SPREADING

* ALL EUROPEAN FACILITIES WILL BE CLOSED BY MIDDLE OF THIS WEEK FOR MINIMUM PERIODS ANNOUNCED THUS FAR BY CARMAKERS I.E. TWO WEEKS TO A MONTH Source text: bit.ly/39kDt8Y Further company coverage: (Gdansk Newsroom)

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