Nabaltec AG: US subsidiary Nashtec LLC affected by the plant closure of its most important supplier; supply of Nashtec customers ensured

(PresseBox) ( Schwandorf, )
Sherwin Alumina Company, LLC, which supplies raw materials to the Nashtec LLC joint venture, announced in a press release on 1 August 2016 that it plans to discontinue production. Production is to be discontinued through the end of August 2016.

As a result, Nashtec LLC will lose its supplies of raw materials as well as its access to infrastructure and will therefore have to temporarily halt production in September. The plan is for Nashtec LLC to continue to operate in the future based on a stand-alone solution, but this requires the agreement of the joint venture partner as well as implementation of an investment package which is already planned.

Customers which have been supplied through Nashtec until now will continue to be supplied by Nabaltec AG from its Schwandorf site, using the capacity which has been added in recent months, so that there will no interruption in supply. As a result, significant revenue losses are not to be expected. However, factors may arise which could weigh down earnings; the precise amount of these potential losses cannot be stated at this time. Because of Sherwin Alumina's Chapter 11 bankruptcy procedure, Nabaltec has refrained from issuing a revenue and earnings forecast for 2016.
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