Granges, the aluminium technology company driving the development of lighter and more sustainable aluminium products and solutions reported a fire incident on 13th May 2022 in the newly built cold rolling mill currently under commissioning in Konin, Poland production facility.
The management declared that no one got injured, but the fire resulted in damage to production equipment. However, the outlook for the second quarter remains unchanged.
Konin's current production capacity and short-term outlook are unaffected by the damaged equipment since the damaged equipment is not yet in production. Accordingly, the current production level in Konin can be sustained. Despite this, the volume ramp-up originally slated for the second half of 2022 will now be delayed until 2023. The event will be covered by insurance, and a more specific outlook will be provided along with the second quarter interim report.
Gränges’ outlook for the second quarter of 2022 remains unchanged concerning the information given in the interim report for the first quarter. The sales volume in the second quarter is expected to be lower than in the second quarter of 2021. Although market demand is anticipated to support a similar sales volume as in the second quarter of 2021, sales volume in Asia is expected to be negatively impacted by the COVID-19 lockdown in Shanghai.
Responses
