Update on the Impact From COVID-19 on the Concentric Group
SKÅNES FAGERHULT, Sweden, April 1, 2020 /PRNewswire/ -- The consequences of the COVID-19 outbreak are affecting Concentric because the industries and regions in which the business operates are being impacted by initiatives by authorities and customers related to the spread of the virus.
As a result, Concentric is reacting quickly to limit the impact by closing some sites, reducing costs and the number of employees, but there remains a considerable risk of a material financial impact on the Concentric Group after the end of March.
With the high levels of uncertainty surrounding the situation and potential future initiatives by authorities and Concentric's customers, it is very difficult to predict the full financial impact on the Concentric Group at this moment.
For further information contact Marcus Whitehouse, CFO +44-121-445 7783
This is information that Concentric 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, at 10.00 CET on 1 April, 2020.
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SOURCE Concentric AB