March 25, 2020 / 7:19 AM / 9 days ago

FACC axes dividend, re-evaluates Croatia investment due to coronavirus

VIENNA, March 25 (Reuters) - Plane parts maker FACC said on Tuesday it would not pay a dividend for last year and re-evaluate its 33 million euro ($36 million) project in Croatia as part of a package to deal with falling demand due to the coronavirus spread.

“The impact on the Group’s earnings for 2020 and at least also in 2021 is currently difficult to assess,” the Austrian group, owned by China’s AVIC, said with regard to the virus.

“From today’s perspective, management assumes that a serious market assessment will not be possible until mid-2020.”

$1 = 0.9242 euros Reporting by Kirsti Knolle; editing by Thomas Seythal

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