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Dynamics : Eliopack will temporarily shift production capacity to other Aluflexpack facilities due to fire incident

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06/25/2019 | 03:20pm EDT

EQS Group-News: Dynamics Group AG / Key word(s): Miscellaneous
Eliopack will temporarily shift production capacity to other Aluflexpack facilities due to fire incident

25.06.2019 / 21:18


Press release

Reinach AG, 25 June 2019

Eliopack will temporarily shift production capacity to other Aluflexpack facilities due to fire incident

Aluflexpack AG ("Aluflexpack" or the "company") informs that on the late afternoon of 24 June 2019, a fire occurred in the ink department at the manufacturing facility of its subsidiary Eliopack in the industrial zone of Ajeux in La Ferté-Bernard, France, one of Aluflexpack's seven production plants. The fire is reported to have started at about 5.40 p.m. (CEST) and was extinguished at about 10:30 p.m. (CEST). No human injuries or casualties have occurred.

Aluflexpack is currently examining the scope of the damage caused. Based on a preliminary assessment, management believe that only the facility's ink department and some electrical infrastructure elements have been affected. The company currently believes that, on the basis of the immediately apparent damage, the necessary repairs can be completed in a period ranging from three to five weeks. Several other departments are expected to be able to continue normal operations within a week.

Net sales of Eliopack accounted for approximately 12.4% of Aluflexpack's total consolidated net sales for the financial year ended 31 December 2018 (on a pro forma basis, showing the effects of the acquisition of Arimpeks in Turkey, as if this acquisition had been completed as of 1 January 2018). On that basis, and based on management's preliminary assessment of the damages, production plans and taking alternative routing within the Aluflexpack group into account, management currently believes that this incident will not result in material loss of revenues. The company expects that the damage, including potential cost associated with business interruption will be covered by the existing insurance policies "The most important thing is that nobody got hurt", says Igor Arbanas, CEO of Aluflexpack. "I would like to wholeheartedly thank our team and the local fire department for their swift and professional reaction which prevented bigger damage. Next week, we will restart operations in several departments and expect the site to be fully operational in 3 to 5 weeks. Based on the first evaluations and discussions with our customers, we believe our ability to fulfill customers' orders won't be materially affected. I would also like to thank our partners who immediately provided help in fixing the damage and helping us to get back to normal business as soon as possible."

During the production stoppage required to carry out repairs, the company will endeavour to shift production to other facilities. Aluflexpack maintains a certain overlap in production capabilities of its production facilities primarily for contingency planning. Management currently assumes this overlap will enable the company to shift production to other facilities to a very large degree. As a result, management currently does not believe that the company's ability to fulfil customer orders will be materially interrupted.

Together with the local fire authorities, Aluflexpack is currently investigating the cause of the fire. The company is also investigating whether the stability of its infrastructure and the structure of the affected area at the manufacturing facility in La Ferté-Bernard have been affected by the fire.
 

Media contacts
Dynamics Group AG
Andreas Durisch / Thomas Balmer
adu@dynamicsgroup.ch / tba@dynamicsgroup.ch
+41 43 268 32 32


About Eliopack:

Eliopack is situated in the industrial zone of Ajeux in La Ferté-Bernard, France. Eliopack manufactures flexible packaging materials mainly for the pharmaceutical and human food end market, where it focusses on converting, printing, slitting and die cutting. As of the financial year ended December 31, 2018, Eliopack employed 80 employees and generated net sales of EUR 23,782 thousands, primarily in France but also in some other European markets. The company was acquired by AFP Group GmbH, a wholly-owned subsidiary of Aluflexpack, in July 2015. AFP Group GmbH holds 80% of the interest in Eliopack.

About Aluflexpack AG:

Aluflexpack AG (Aluflexpack) is a 100 % subsidiary of Montana Tech Components AG. Aluflexpack produces flexible packaging solutions mainly for end markets such as coffee/tea, pharmaceuticals, pet food, confectionery and dairy. Well-established insights, service flexibility and innovative strength are what underpin long-term customer relationships; both with locally operating companies and large international corporations. Aluflexpack, headquartered in Reinach (AG), Switzerland, has production facilities in Switzerland, France and Turkey and four production facilities in Croatia. The number of employees as of March 31, 2019 was approximately 1,150. www.aluflexpack.com

 

Disclaimer

The information contained herein is not for release, directly or indirectly, in or into the United States of America, Canada, Australia, Japan or any other jurisdiction where to do so would be unlawful. This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in Canada, Australia or Japan or any other jurisdiction where such an offer or solicitation would be unlawful. In particular, this document is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or an exemption from registration. The securities referred to herein have not been and will not be registered under the Securities Act. No public offering of the securities will be made in the United States.

This communication is not being distributed to, and must not be passed on to, the general public in the United Kingdom. This announcement is made to and is directed only at persons in the United Kingdom having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) or are high net worth companies, unincorporated associations etc falling within Article 49(2), in each case of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and to those persons to whom it can otherwise lawfully be distributed (all such persons together being referred to as "relevant persons"). This communication and the securities referred to herein are, and will be made, available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, such relevant persons. No other person should rely or act upon it. This communication is not intended for distribution to and must not be passed on to any retail client.

Statements contained herein may constitute "forward-looking statements". Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's or its industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.

This communication is not an issuance or listing prospectus or a similar document in the sense of article 652a, article 752 and/or article 1156 of the Swiss Code of Obligations or articles 27 et seq. of the Listing Rules of the SIX Swiss Exchange and was not reviewed by any competent authority. Any offer of securities of the Company will be made solely by means of, and on the basis of, an offering memorandum that will contain detailed information about the Company and its management as well as risk factors and financial statements. Any person considering the purchase of any securities of the Company must inform itself independently based solely on such offering memorandum (including any supplement thereto). Investors are furthermore advised to consult their bank or financial adviser before making any investment decision.



End of Corporate News


830901  25.06.2019 

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© EQS 2019
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