June 22, 2020 / 10:55 AM / 11 days ago

BRIEF-Eramet Launches Strategic Review Regarding Its Unit Aubert & Duval

June 22 (Reuters) - Eramet SA:

* RESPONSE TO RUMOURS ABOUT ITS SUBSIDIARY AUBERT & DUVAL

* GROUP HAS INITIATED A DETAILED STRATEGIC REVIEW REGARDING ITS SUBSIDIARY, A&D, ALL OPTIONS BEING CONSIDERED

* GROUP WILL COMMUNICATE IN DUE COURSE IN COMPLIANCE WITH RELEVANT REGULATION

* VERY SIGNIFICANT SLOWDOWN OF AEROSPACE SECTOR WEIGHS STRONGLY ON ACTIVITY OF AUBERT & DUVAL (“A&D”), ERAMET’S SUBSIDIARY

* A&D’S SITES ARE FACING A STRONG SLOWDOWN, AND PRODUCTION RATE OF EACH WORKSHOP IS ADJUSTED ON A REGULAR BASIS

* BASED ON LATEST FORECAST, A&D TURNOVER SHOULD DECREASE BY APPROXIMATELY 20 % IN 2020 COMPARED TO 2019, WHICH WILL WEIGH ON ITS FINANCIAL PERFORMANCE AND SITUATION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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