WINTERTHUR, Switzerland, June 3, 2020-

With the resumption of vehicle manufacture by customers, Autoneum has also restarted component production in its plants. In China, the world's largest automobile market, production has been running again since March, while in Europe and North America it has been gradually resumed since mid-May in line with customer demand. Despite additional, massive cost-cutting measures, the drastic decline in revenue caused by the corona pandemic in the second quarter can not be compensated, which will have a significant impact on the net result of the first half of 2020. 

While production in China, which was affected first by the corona pandemic, resumed in March and has almost reached pre-crisis levels, customers in Autoneum’s main markets Europe and North America completely halted production at the end of March. In line with the restart of vehicle production by customers in these regions, Autoneum plants also gradually resumed component manufacture in mid-May and are currently producing at reduced volumes in response to customer call-offs.

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