UPDATE 24/03/2020: INFORMATION ON THE IMPACT OF THE CORONAVIRUS FOR OUR BUSINESS PARTNERS

By now, we all know that COVID-19/the Coronavirus has been declared a pandemic. It has dramatically affected all of us, and the news changes daily – even hourly. We want to reassure you that the health and safety of everybody inside and outside SAERTEX have the highest priority for us. We are closely monitoring the situation and want to update you on our business activities as they stand today, MAR 24, 2020:

• As SAERTEX maintains a global and robust supply chain with mostly regional sourcing of raw materials for our 15 production facilities on 5 continents, we are currently still able to supply our customers.
o Our plants in India and South Africa will be closed from now on, to comply with the shutdown regulations of local governments.
o All other plants are still in operation with almost no reduction in delivery performance and supply chains.

• Our task force in place has implemented additional measures to further improve preventive measures in the company and we are working closely together with local safety authorities.

• Our teams show highest commitment to maintain our shift systems in production and administration processes have been properly transferred to maintain services from home office.

• The supply of raw materials is still causing no bottlenecks. Even the shutdown of one of our European carbon fiber suppliers is currently still not affecting our supply. This situation is constantly monitored and assessed.

Should there occur any bottlenecks, we will try to keep them to a minimum by taking appropriate measures and will inform you at short notice via our sales teams.