Aperam S.A. / Key word(s): Share Buyback
Aperam announces a prudent deferral of the start of its share buy back
program in the context of COVID-19
01-Apr-2020 / 07:00 CET/CEST
Luxembourg, 1 April 2020 (07:00 CET) - Aperam announces a prudent deferral
of the start of its share buy back program in the context of COVID-19.
In the unprecedented COVID-19 crisis, we have as top priority the health and
safety of all the people who work for and with Aperam. Hence we have
implemented all necessary actions to protect our personnel and all the
communities around our sites from the spread of this pandemic, in line with
guidance issued by the World Health Organization and national governments.
Whenever possible we continue to use home working and visual training for
all our people. We remain in close contact with our local stakeholders and
support hospitals with donations of masks.
In these exceptional conditions, everything is also done to preserve the
integrity of our plants and our business, and to support our services to
customers. A large program to variabilize costs and reduce spends has been
launched, and will be realized thanks to the efforts of all our employees.
In line with above, the Board of Directors has decided to prudently defer
the start of the share buy back program by 6 months to assess the severity
and duration of the economic contraction, while keeping the announced
dividends.
About Aperam
Aperam is a global player in stainless, electrical and specialty steel, with
customers in over 40 countries. The business is organised in three primary
operating segments: Stainless & Electrical Steel, Services & Solutions and
Alloys & Specialties.
Aperam has a flat Stainless and Electrical steel capacity of 2.5 million
tonnes in Brazil and Europe and is a leader in high value specialty
products. In addition to its industrial network, spread over six production
facilities in Brazil, Belgium and France, Aperam has a highly integrated
distribution, processing and services network and a unique capability to
produce stainless and special steels from low cost biomass (charcoal made
from its own FSC-certified forestry).
In 2019, Aperam had sales of EUR 4,240 million and steel shipments of 1.79
million tonnes.
For further information, please refer to our website at www.aperam.com
Contact
Corporate Communications / Laurent Beauloye: +352 27 36 27 103
Investor Relations / Thorsten Zimmermann: +352 27 36 27 304
Dissemination of a Financial Wire News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
1012281 01-Apr-2020 CET/CEST
(END) Dow Jones Newswires
April 01, 2020 01:00 ET (05:00 GMT)
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