Lacroix Group : Update on the COVID-19 situation.

Update on the COVID-19 situation

In response to the ongoing health crisis, LACROIX Group is taking appropriate steps to limit the spread of Covid-19, safeguard its teams and, as far as possible, ensure business continuity for its customers.

To adapt to the reduction in its order book and the closure of customer sites, LACROIX Group has decided to close its production facility in Saint-Herblain (LACROIX City) completely, and to close most of its Saint-Pierre Montlimart facility (LACROIX Electronics). The Chères and Carros (LACROIX City) and Vern (LACROIX Environment) sites are operating on a limited basis at present to fulfil orders in progress, chiefly for its international business. LACROIX Group has put in place a plan for employees, involving annual leave and temporary lay-offs to adapt itself to the level of activities

Production facilities in Poland (LACROIX Electronics), Germany (LACROIX Electronics and LACROIX Environment) and Spain (LACROIX City and LACROIX Environment) are still operational, albeit in difficult circumstances. The Tunisian facility (LACROIX Electronics) is closed following the decision by Tunisia’s president to put the country into lockdown. On a general basis, LACROIX Group will review the continuation of these activities to ensure staff safety and depending on customer orders.

Moreover, LACROIX Group is doing everything it can to secure its financing and limit the impact on cash flow (deferral of social charges, bank payments, etc.)

In these unprecedented times, LACROIX Group can no longer confirm its annual targets. Nonetheless, all LACROIX Group teams are ready to adapt to this extraordinary situation in the short term and to continue building towards their medium-term objectives with fortitude and confidence.

About LACROIX Group

LACROIX Group is an international technological equipment manufacturer determined to put its technical and industrial expertise to work building a connected, responsible world.

A 30% listed, 70% family-owned ISE, LACROIX Group combines the agility that is crucial for innovating in a constantly changing technological world with the capacity to industrialise robust, secure equipment and the long-term vision to invest and build the future.

LACROIX Group supplies secure, connected equipment used to manage Smart City infrastructures (public lighting, signage, traffic management, V2X) as well as water and energy infrastructures.

LACROIX Group also designs and manufactures electronics for its clients, particularly in the automotive, automation, aerospace, industry and healthcare sectors.

Drawing on its extensive experience and expertise, the Group is working with its clients and partners to forge a bridge between the world of today and the world of tomorrow. It is helping them build the industry of the future and seize the opportunities for innovation all around them, and providing them with the equipment for a smarter world.

Contacts

LACROIX Group Deputy CEO & Executive VP - Finance Nicolas Bedouin [e-mail] Tel: [phone]

ACTIFIN Press Relations Jennifer Jullia   [e-mail] Tel: [phone]

ACTIFIN Financial Communication Stéphane Ruiz [e-mail] Tel: [phone]

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