March 23, 2020 / 7:53 AM / 8 days ago

BRIEF-Serstech Cuts Costs To Adapt To New Market Conditions

March 23 (Reuters) - Serstech AB:

* REG-SERSTECH AB: SERSTECH REDUCES COST TO ADAPT TO NEW MARKET CONDITIONS

* SERSTECH HAS INITIATED A COST-CUTTING PROGRAM TO REDUCE IMPACT OF CHANGING MARKET CONDITIONS AFTER CORONA OUTBREAK

* ALL ESSENTIAL FUNCTIONS WILL REMAIN INTACT, BUT PROGRAM HAS SEVERAL CONTINGENCIES WHICH CAN QUICKLY BE ACTIVATED IF CURRENT SITUATION REMAINS FOR A PROLONGED PERIOD

* SALES WILL BE LOW FOR COMING MONTHS, IS TAKING ACTIONS TO LOWER OUR SPENDING FAST Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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