In a statement released on April 1, Alimak Group highlighted how COVID-19 has impacted business and announced its Chinese organization is fully back in operation and approaching normal capacity.
The company went on to say, “Governments across the world are taking significant and increasing measures to contain the COVID-19 pandemic. The methods to deal with the pandemic vary from country to country and new measures are implemented from one day to another. Measures include closing down construction sites, limiting manufacturing operations and maintenance activities. Customers are also, to a varying degree, restricting access to their sites, and this limits new equipment sales but also installation and service activities.
“This has resulted in rapidly changing market conditions as well as increased uncertainty. The Group is taking considerable measures, on both global and local levels, to protect its employees and business, and is monitoring the effects of the pandemic, both short and long term. Most of Alimak Group’s production and assembly units have been able to continue operating, however due to government restrictions the production is currently on hold or restricted in Brazil and Spain and partially limited in other countries.
“The spread of COVID-19 from Asia into Europe and the Americas will therefore have a material impact on demand and on the supply chain, and will restrict service delivery in the first quarter. Alimak Group also expects the challenging market conditions to prevail in the second quarter, at least. However, currently it is not possible to quantify the full financial effects that the pandemic may have on Alimak Group.”