July 1, 2020 / 6:22 AM / 7 days ago

BRIEF-RHI Magnesita NV Defers 45 Mln Euros Of 2020 Capex

July 1 (Reuters) - RHI Magnesita NV:

* RHI MAGNESITA NV - MATERIAL DROP IN RHI MAGNESITA’S REVENUES ACROSS BOTH STEEL AND INDUSTRIAL DIVISIONS IN Q2 (DOWN ALMOST 20% VERSUS Q1 2020

* RHI MAGNESITA NV - TEMPORARY CLOSURE OF 3 PLANTS IN EUROPE & ONE PLANT IN MEXICO, INTRODUCTION OF SHORT TIME WORKING ARRANGEMENTS IN SOME PLANTS

* RHI MAGNESITA NV - DEFERRAL OF EUR 45 MILLION OF CAPITAL EXPENDITURE IN 2020, NO 2019 FINAL DIVIDEND BEING PAID

* RHI MAGNESITA NV - WELL ADVANCED IN LOWERING NON-OPERATIONAL COSTS, REDUCING SCALE OF FIRST 3 LEVELS OF MANAGEMENT BY 20%, EFFECTIVE 1 AUGUST 2020 Source text for Eikon: Further company coverage:

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