March 24, 2020 / 1:13 PM / 12 days ago

BRIEF-Aston Martin Lagonda Says Temporarily Suspending Production At UK Manufacturing Facilities From 25 March Until 20 April

March 24 (Reuters) - Aston Martin Lagonda Global Holdings PLC:

* UPDATE ON OPERATIONS AND THE IMPACT OF COVID-19

* CURRENTLY ABOUT A THIRD OF DEALER NETWORK IS CLOSED AND A THIRD OPERATING WITH LIMITED CAPACITY AND THIS LEVEL MAY INCREASE

* TEMPORARILY SUSPENDING PRODUCTION AT ITS UK MANUFACTURING FACILITIES FROM TOMORROW, 25 MARCH UNTIL 20 APRIL

* OF 18 DEALERS IN CHINA, SOME OF WHICH WERE CLOSED EARLIER IN YEAR, ALL BUT ONE ARE NOW OPEN

* TAKING ACTIONS TO CONTROL AND RE-PHASE BOTH OPERATING COSTS AND CAPITAL EXPENDITURE

* WORKING WITH ITS SUPPLIERS AND BUSINESS PARTNERS TO BE READY TO DELIVER PRODUCTION TO MEET DEMAND FOLLOWING SUSPENSION

* FOR FULL YEAR, SPORTS CAR WHOLESALES WERE ALREADY PLANNED TO BE MATERIALLY LOWER THAN 2019

* CURRENTLY ABOUT A THIRD OF DEALER NETWORK IS CLOSED AND A THIRD OPERATING WITH LIMITED CAPACITY AND THIS LEVEL MAY INCREASE

* DEVELOPMENT OF ASTON MARTIN VALKYRIE CONTINUES WITH FIRST DELIVERIES STILL CURRENTLY PLANNED FOR H2 2020

* VIRUS NOW IMPACTING DEMAND IN OTHER MARKETS INCREASING UNCERTAINTIES AND RISKS TO FINANCIAL PERFORMANCE OF COMPANY IN 2020

* VIRUS NOW IMPACTING DEMAND IN OTHER MARKETS INCREASING UNCERTAINTIES AND RISKS TO FINANCIAL PERFORMANCE OF COMPANY IN 2020 Source text for Eikon: Further company coverage:

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