Campine’s agile response to the Covid crisis.
30 Abril 2020 - 11:30AM
Campine’s agile response to the Covid crisis.
Regulated information – April 30, 2020 -
18:30
As part of the essential sectors in the industry
(as defined by the Belgian government), Campine has remained fully
operational during the Corona crisis. The treatment and recycling
of waste into renewed materials and production of chemicals such as
Antimonytrioxide, used as catalyst to produce PET water bottles,
are vital to our society. Campine has implemented all necessary
infection preventive measures and so far no employees are
affected.
The lockdown of the economy throughout Europe
has increasingly made some raw materials scarce and reduced the
availability of our sector’s standard personal protective
equipment.
Campine has therefore decided to advance its
yearly maintenance shutdown of its Metals Recycling Division from
July to end of May / early June. “Market conditions are ideal for
shutting down our plant now” says CEO De Vos “The availability of
scrap batteries is extremely tight and also the LME lead price is
at a 10 year low.”
Expectations for 2020
Metals RecyclingCampine’s Metals Recycling
business has been running at normal volumes in the first 4 months
of the year. Demand from industrial customers in the automotive
battery sector has reduced substantially, but Campine managed to
sell the commodity lead to other outlets. The half year results
will be negatively influenced by the low lead LME price and volumes
for May and June will be significantly lower due to the shift of
the shutdown into the first semester. The restart of the furnace
will depend on the availability of scrap battery feedstock. The
recycling of other metals runs as planned.
Specialty ChemicalsCampine’s Specialty Chemicals
business has also been running at normal volumes in the first 4
months of the year. Demand is now showing a downward trend and we
expect a volume reduction of roughly 30% for May and June. Also the
lowered Antimony metal prices will impact the half year results of
this Division.
InvestmentsCampine is continuing all investments
which had already started prior to the crisis. Some of the projects
incurred delays due to availability of materials or labour. The
installation to recycle the PP plastic from batteries however has
been put on hold in relation to the current volatile economic
situation and because this investment involves many foreign
subcontractors, who cannot guarantee continuation at this
point.
Campine’s result of the first half year will
thus be substantially lower than in former years. “It is impossible
to give a forecast for the complete year 2020” comments De Vos “but
we are running as efficient as possible and I want to thank all our
employees for their continued efforts. By moving forward the yearly
shutdown we will be ready to take advantage when the demand will be
restoring in the second half year”. Campine has a solid balance
sheet, with a high solvability ratio and a healthy cash position.
No financial issues are expected during 2020.
Campine’s Annual General Meeting will be held on
May 27th solely via video conference.
Press Releases and info on the General Assembly
meeting can be found on the website of Campine.
For further information you can contact Karin
Leysen: tel. +32 14 60 15 49 / email: Karin.Leysen@campine.be
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