Ringmetall maintains production ongoing as part of system-relevant industries
Tuesday, 24 March 2020 () DGAP-News: Ringmetall Aktiengesellschaft / Key word(s): Market Report
24.03.2020 / 09:49
The issuer is solely responsible for the content of this announcement.*Ringmetall maintains production ongoing as part of system-relevant industries*
- Production capability officially assessed as essential for maintaining supply chains
- High demand for clamping rings in the first quarter
- Order backlog signals stable trend so far also in second quarter
*Munich, 24 March 2020 - Ringmetall AG (ISIN: DE0006001902),* a leading international specialist supplier in the packaging industry, has already received extensive special permits and production approvals from several of the nationally responsible authorities. These approvals are intended to ensure that the company will continue to be able to produce even if COVID-19 continues to have an increasing impact on public life and the economy. As the only globally positioned manufacturer of safety-relevant closure systems for industrial drums, the company has accordingly been classified as an important supplier to system-relevant industries.
The classification as part of system-relevant industries ensures that the Ringmetall Group with its 15 plants in seven countries worldwide can continue to produce in its plants even in the event of officially ordered plant closures, such as recently in Italy. "It can be assumed that COVID-19 will lead to significant changes and restrictions in everyday life in some regions. As a result, many national authorities are now selectively granting business continuity authorizations to ensure that the supply chains of systemically important industries remain fully operational," explains Christoph Petri, spokesperson of the Management Board of Ringmetall AG. "Of course, we have taken extensive precautions as well to ensure that we can continue to supply our customers in the chemical, pharmaceutical and food processing industries with the products that are absolutely necessary for the transport of goods due to their safety relevance". At present, such special approvals exist for Berger Group products, and it can also be assumed that the production of the subsidiaries Nittel and Tesseraux will soon be classified by the responsible Federal Ministry of Food and Agriculture as systemically relevant for the food infrastructure.
Overall, the company is currently experiencing consistently high demand for its drum closure systems. Both the course of business in the first quarter and the expected course of business for the second quarter based on orders on hand indicate stable customer demand to date. "To a small extent, this demand is driven by higher inventory levels at a few customers. However, the majority of our orders are the result of the original day-to-day business of our customers, as we have learned from discussions with our customers," continues Board Member Christoph Petri.
In order to be able to continue to supply even in the event of a short-term supply bottleneck, the company has significantly increased the stock of raw materials and pre-products in its production facilities. At the same time, hygiene measures in the plants were further increased and precautions were taken to minimize the risk of infection for personnel in both production and administration.
Against the background of the significant limitation with regard to the possibility of roadshow activities, the Management Board and Investor Relations will be happy to provide information to interested investors by means of conference calls and video conferences. If you are interested, please contact [email protected] to schedule a meeting. Further information on Ringmetall AG and its affiliated subsidiaries is available on the company's website at www.ringmetall.de.*Contact:*
Phone: +49 (0 )89 45 220 98 12
Mobile: +49 (0 )174 90 911 90
Email: [email protected]*About Ringmetall Group*
Ringmetall is a leading international specialist in the packaging industry. The Industrial Packaging business offers highly secure closures and inliners for industrial drums for the chemical, petrochemical, pharmaceutical and food processing industries. The Industrial Handling business unit develops application-optimized vehicle components for the handling and transport of packaging units. In addition to the Group headquarters in Munich, Ringmetall has worldwide production and sales offices in Germany, France, Great Britain, Spain, Italy, Turkey, the Netherlands, China and the USA. Worldwide Ringmetall generates more than EUR 120 million in revenues.
24.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Company: Ringmetall Aktiengesellschaft
Innere Wiener Str. 9
Phone: 089 / 45 22 098 - 0
Fax: 089 / 45 22 098 - 22
E-mail: [email protected]
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1005103
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