March 19, 2020 / 7:57 AM / 15 days ago

BRIEF-Recylex Reduces Production Functions In French Based Lead And Plastics Segments Due To COVID-19

March 19 (Reuters) - RECYLEX SA:

* INFORMATION ON DISCUSSIONS WITH FINANCIAL PARTNERS AND IMPACT OF COVID-19 VIRUS ON GROUP’S ACTIVITY

* SCHEDULED MAINTENANCE SHUTDOWN OF WESER-METALL GMBH’S SMELTER HAS TO BE POSTPONED TO A LATER DATE

* FINANCIAL PARTNERS WILL ASSESS BEFORE END OF APRIL 2020 WHETHER AND UNDER WHICH CONDITIONS THEIR FINANCING COULD BE MAINTAINED UNTIL MAY 31ST, 2020

* IN FRENCH BASED LEAD AND PLASTICS SEGMENTS, GROUP HAD DECIDED TO REDUCE PRODUCTION FUNCTIONS AS LOW AS POSSIBLE

* ON CORONAVIRUS: OPERATIONS OF OTHER GROUP’S COMPANIES (HARZ-METALL GMBH, NORZINCO GMBH, PPM PURE METALS GMBH, RECYTECH S.A.) ARE NOT AFFECTED

* STARTING FROM MONDAY MARCH 23(RD), 2020, OPERATIONS OF USED LEAD-ACID BATTERIES RECYCLING PLANTS BASED IN FRANCE AND THOSE OF C2P FRANCE WILL BE REDUCED TO MAINTENANCE, RECEPTION AND EXPEDITION OF PLANNED DELIVERIES UNTIL FURTHER NOTICE

* RECYLEX IS CONTINUING EXAMINATION OF POTENTIAL IMPACTS OF THIS SITUATION ON ITS PURCHASING, LOGISTICS, ACTIVITY AS WELL AS ON ITS FINANCIAL SITUATION

* OPERATIONS AT HARZ-METALL GMBH CONTINUE AT TIME BEING AND WILL BE ASSESSED CONTINUOUSLY

* DEPLOYMENT ON SITE OF A HIGH NUMBER OF WORKERS FROM EXTERNAL PROVIDERS IS ACTUALLY IMPOSSIBLE REGARDING THE SANITARY RISKS AND RESTRICTIONS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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