DGAP-Adhoc: ElringKlinger adjusts production due to coronavirus pandemic

ElringKlinger adjusts production due to coronavirus pandemic

Dettingen/Erms (Germany), March 23, 2020 +++ As a result of the coronavirus pandemic, a large number of automobile manufacturers have suspended production at many of their sites or have announced such stoppages. In response, the Management Board of ElringKlinger AG, Dettingen/Erms (ISIN DE 0007856023/ WKN 785602), acting in consultation with the Group works council of ElringKlinger AG, has decided to adjust Group production in Germany in line with requirements directly as of today (March 23). Among the sites primarily affected are those in Europe and North America, but also the plant in India and that in Brazil. Production will either be scaled down - in Germany, for example, all necessary preparations for short-time work are now being made - or halted temporarily. This package of measures does not include the Chinese plants, which have resumed operations following the temporary closures. At present, the sites in other regions of the world, such as South Africa, will also continue production without being affected by these measures.

It is impossible to predict the duration of plant closures by manufacturers. The same applies to potentially more extensive measures in the coming weeks - also from a political perspective. In view of these considerable uncertainties and significant dynamics, the economic effects on the Group cannot currently be determined with sufficient reliability and accuracy.

For further information, please contact:
ElringKlinger AG
Dr. Jens Winter | Strategic Communications
Max-Eyth-Straße 2 | D-72581 Dettingen/Erms
Phone: +49 7123 724-88335 | Fax: +49 7123 724-85 8335
E-mail: [email protected] | www.elringklinger.com

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to its customers - with a firm commitment to shaping the future of mobility. Whether optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive system. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO₂, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to refine and evolve its offering within the area of seals and gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic PTFE, which is also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 10,000 people at 45 ElringKlinger Group locations around the globe.