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Gränges AB: Temporary production disturbances affecting Gränges' sales volume in third quarter
Gränges has during July and August experienced temporary production disturbances in the Huntingdon and Salisbury plants in the US. The production disturbances have impacted the already capacity constrained rolling mills and resulted in lost production capacity and lower sales volume. The specific issues behind the disturbances have been solved. For the third quarter the temporary production disturbances are expected to lead to a loss of sales volume of about 6 ktonnes.
"We usually do not comment on minor production disturbances, but when occurring in plants operating at close to maximum capacity there is a direct impact on the sales volume. The specific issues behind the disturbances have been solved and we have also strengthened the production organization in Gränges Americas to further increase the focus on process stability and availability of the production assets. Moreover, I am looking forward to the start of production for our expansion investments in the fourth quarter as this also will ease the current capacity constraints", says Gränges' CEO Johan Menckel.
Gränges will publish its Interim Report for January to September 2019 on Thursday 24 October at 07:30 CEST. CEO Johan Menckel and CFO Oskar Hellström will present the report at a webcasted conference call at 10.00 CEST the same day.
For further information, please contact:
Johan Menckel, CEO
johan.menckel@granges.com,tel: +46 8 459 59 00
Oskar Hellström, CFO & Deputy CEO
oskar.hellstrom@granges.com,tel: +46 8 459 59 00
This information is information that Gränges AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 13 September 2019 at 17:15 CEST.
About Gränges
Gränges is a leading global supplier of rolled aluminium products for heat exchanger applications and other niche markets. In materials for brazed heat exchangers Gränges is the global leader with a market share of approximately 20 per cent. The company develops, produces and markets advanced materials that enhance efficiency in the customer manufacturing process and the performance of the final products. The company's geographical markets are Europe, Asia and the Americas. Its production facilities are located in Sweden, China and the United States, and have a combined annual capacity of 420,000 metric tonnes. Gränges has about 1,800 employees and net sales of SEK 13 billion. The share is listed on Nasdaq Stockholm. More information on Gränges is available at www.granges.com.
