Umicore has rolled out its business continuity plans and has taken precautionary measures in response to the COVID-19 outbreak to keep its people healthy, to ensure that the workplace is safe and to preserve cash.
To help contain the further spread of the virus and protect its employees’ health and wellbeing, Umicore’s priority is the health and safety of its employees. In all Umicore’s facilities in Asia and later in the rest of the world, strict hygiene and other precautionary measures have been implemented by the company since Lunar New Year.
Outside Asia, most of Umicore‘s catalyst production capacity is temporarily shut down. The inflow of raw materials has been adjusted by Umicore accordingly. Other costs are reduced as well.
Along with the majority of Umicore’s other recycling facilities, operations resumed by the Hoboken plant. Umicore is also delaying certain capital expenditures programs in response to the changed business context.
While adjusting operations and preserving cashflows, Umicore is monitoring the situation closely and will continue to respond as required. Further updates will be provided by Umicore at the time of its AGM which will be held on 30 April 2020.
