Neles announces temporary closure in Brazil due to COVID-19 cases.
NORDIC BUSINESS REPORT-March 24, 2021-Neles announces temporary closure in Brazil due to COVID-19 cases
(C)2021 M2 COMMUNICATIONS http://www.m2.com
Neles Corporation (HEL:NELES), a provider of mission-critical flow control solutions and services for process industries, announced on Wednesday that it will temporarily close its Brazilian supply centre due to COVID-19 cases at the location.
This measure is being taken to protect the company's employees and their families, Neles said.
There will be a negative impact on first quarter sales resulting from the temporary closure of the Brazilian facility and the consequent delay in sales recognition to subsequent quarters, as well as the timing of other deliveries of the order backlog and exchange rate fluctuations.
Sales are estimated to decline by approximately EUR10m or more compared to the...
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