Business
Responding to COVID-19
Responding to COVID-19.
About this update from Rotork Plc
[{"type":"text","content":"\n \n \n RNS Number : 1298I\n Rotork PLC\n 31 March 2020\n \n \n \n Rotork Plc\n \n Responding to COVID-19\n \n \n 31 March 2020\n \n \n \n \n \n Rotork Plc (\"Rotork\"), the global flow control and instrumentation group, today announces the actions it is taking in response to COVID-19. This announcement contains inside information.\n \n \n \n \n \n Responding to COVID-19 \n \n \n \n \n \n Our priority is the health and safety of our colleagues and their families, our customers, suppliers and all other stakeholders, and we are taking decisive actions to manage the situation whilst following the instructions from governments and health authorities. \n \n \n \n \n \n Since Rotork reported its Full Year Results on 3 March, the outlook for 2020 has become considerably more uncertain. Governments around the world are taking unprecedented measures to contain the COVID-19 pandemic, including restricting the movement of people, requiring social distancing and in some cases closing places of work.\n \n \n \n \n \n Our ability to deliver products and services to our customers has remained good considering the demanding environment. However, in the last few weeks we have started to experience increased disruption. This is due to our actions to protect our people (including in our factories, where we have had to change working practices and conditions, and in some cases have had temporary closures), our supply chain (where not all of our alternative suppliers have been able to sufficiently lift production) and logistics (international transportation is taking longer and has become more expensive). \n \n \n \n \n \n • The initial COVID-19 outbreak in China caused delays in deliveries and an increase in logistics costs. The Rotork teams have worked hard to overcome these issues and the output from our factory in China is now close to back to normal. \n \n \n \n • Whilst our teams in India and Malaysia continue to work effectively, our factories in these countries are currently closed, in-line with government instructions. \n \n \n \n • The situation in Italy is now impacting the Group. Rotork has three manufacturing sites in Italy, and a significant valve-maker customer base in the country. Our sales people, application engineers and contracts teams are working from home and re...