COVID-19 Update

RNS Number : 4668I

Alumasc Group PLC

01 April 2020

 

1 April 2020

THE ALUMASC GROUP PLC

("ALUMASC")

 COVID-19 Update

Alumasc, the premium building products, systems and solutions group, is today providing an update on the impact of the spread of the COVID-19 virus on its business and the measures it is taking to mitigate the risks presented by this situation.

The Board's priority is to safeguard the welfare of our workforce, customers and suppliers and the Group is following Government guidelines on operating safely in these conditions.

Operations

Further to the update on 27 March, we have taken the decision to temporarily close our Burton Latimer and Halstead sites (AWMS and Wade), as part of our wider cost saving measures. This follows further construction customers closing their sites, and is currently anticipated to last for a three-week period, with planned re-opening on 22 April and 23 April respectively. Our Gatic covers, Rainclear and Building Envelope businesses remain open and operating as normal to reflect current demand.

The majority of our employees at our closed locations are being furloughed under the Government COVID-19 Job Retention Scheme, providing immediate cost saving benefits. We are also in the process of implementing additional cash preservation measures and will update the market accordingly in due course.

Enquiries:

Paul Hooper, CEO Helen Ashton, Group Company Secretary

+ 44 (0) 1536 383844 + 44 (0) 1536 383812

Peel Hunt (Broker) 

Mike Bell                                                                                      + 44 (0) 207 418 8831

FinnCap (NOMAD)

Julian Blunt                 + 44 (0) 207 220 0561 

Camarco:

Ginny Pulbrook                                                                            + 44 (0) 203 757 4992

Tom Huddart                            + 44 (0) 203 757 4991

                          Email: [e-mail]

Notes to Editors:

Alumasc is a UK-based supplier of premium building products, systems and solutions. Almost 80% of group sales are driven by building regulations and specifications (architects and structural engineers) because of the performance characteristics offered.

The Group has three business segments with strong positions and brands in their individual markets. The three segments are: Building Envelope; Water Management; and Housebuilding Products.

 

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