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April 14, 2020

Impact of COVID-19 (Coronavirus)

In light of the latest developments regarding the global spread of COVID-19, Picanol has announced that it will restart production at its plant in Ieper (Belgium - Machines & Technologies segment) on a step-by-step basis with effect from today, Tuesday, April 14, 2020. Picanol had temporarily suspended production in Ieper on March 23, 2020.

In the meantime, in consultation with the social partners in Ieper, Picanol has taken the necessary measures in order to start up its activities safely and gradually, taking into account government guidelines..

As it is not yet clear when the factory in Ieper will be fully operational again, Picanol is currently unable to give an indication of the financial impact of this disruption to its production. Picanol will publish further details on this matter as soon as they become available.