Impact of COVID-19 (Coronavirus)

Based on the recommendations from the WHO and the relevant local authorities, Picanol has already taken a comprehensive set of health and safety initiatives in order to protect its employees and others from the disease and keep its plants and its businesses running as normal. These included precautionary measures for all of its employees, specific travel guidelines for all business-related travel, and additional safety measures at its sites.

In light of the latest developments concerning the global spread of COVID-19, Picanol has announced today that it will temporarily suspend production at its plant in Ieper, Belgium, except for those parts and supplies that are necessary for customer service and critical supply chains for OEM customers.

Based on the present circumstances, Picanol anticipates that it may take some time for production activities to become fully operational again. As it is unclear exactly when the relaunch of the production activities will take place, Picanol is at this point in time unable to give an indication of the financial impact of this disruption to its production.

Picanol will provide additional updates on this matter as the situation develops.