TIDMESNT
RNS Number : 6691R
Essentra plc
25 September 2017
ESSENTRA PLC
A leading global provider of essential components and
solutions
ASSESSMENT OF RECENT HURRICANE ACTIVITY IN THE AMERICAS
Essentra plc ("Essentra" or "the Company") today confirms that
its two Health & Personal Care Packaging sites in Puerto Rico
have been disrupted as a result of the recent Hurricane Maria.
While the facilities at Manati and Guaynabo have not sustained
significant physical damage, they have not been operational since
19 September 2017. Since this time, Essentra has focused its
efforts on ensuring the safety of its 345 employees in Puerto Rico,
and providing both them and customers with whatever practical
support it can during these extremely challenging conditions.
Notwithstanding that both sites are fundamentally intact, there
are significant impediments to resuming manufacturing activity,
including the circumstances of employees, availability of power,
ongoing disruption to general infrastructure and the extent to
which customers themselves have been impacted (among other
considerations). As a result, it is not currently possible to
confirm the timing that normal output levels will be resumed;
however, this is unlikely to be in the immediate future. To the
extent that the two facilities are not operational, the financial
impact is estimated to be in the range of GBP500,000 - 750,000 per
week, a significant part of which is expected ultimately to be
recovered through the Company's comprehensive insurance
policies.
Having already experienced some minor disruption from Hurricanes
Harvey and Irma to its sites in Houston, Largo and Puerto Rico,
Essentra estimates the profit impact from these previous storms
(ie, pre-Maria) to be in the range of GBP0.5 - 1.0m.
Commenting on today's announcement, Paul Forman, Chief
Executive, said:
"Our experienced local team was very well prepared for the
hurricane strike, and - supported by colleagues from the wider
Health & Personal Care Packaging - Americas business - has done
an excellent job of managing events to date, thanks to their
tireless efforts and commitment.
With communications in Puerto Rico remaining sporadic, our
ongoing priority is confirming the safety of all our employees and
on providing them with whatever assistance we can, including the
shipment of emergency provisions as soon as ports and the airport
reopen. We are also in regular dialogue with our customers - most
of whom are in a similar position regarding the status of their own
operations and workforce - and have already implemented business
continuity plans to transfer orders to Essentra facilities in
mainland United States and beyond.
Given the exceptional nature of Hurricane Maria and the current
level of uncertainty regarding its ongoing impact, the Company is
clearly continuing to closely monitor the situation in Puerto Rico
and will provide an update in our next trading statement, or when
we have greater clarity if earlier."
Enquiries
Essentra plc Ogilvy PR London
Joanna Speed, Corporate Jeremy Lucas
Affairs Director Tel: +44 (0)7786 856432
Tel: +44 (0)1908 359100 E-mail: jeremy.lucas@ogilvy.com
Notes to Editors
About Essentra plc
Essentra plc is a FTSE 250 company and a leading global provider
of essential components and solutions. Essentra focuses on the
light manufacture and distribution of high volume, enabling
components which serve customers in a wide variety of end-markets
and geographies.
Component Solutions
The Components business is a global market leading manufacturer
and distributor of plastic injection moulded, vinyl dip moulded and
metal items. Operating units in 29 countries serve a very broad
industrial base of customers with a rapid supply of products for a
variety of applications in industries such as equipment
manufacturing, automotive, fabrication, electronics and
construction.
The Pipe Protection Technologies business specialises in the
manufacture of high performance innovative products from commodity
resins to engineering-grade thermoplastics and polymer alloys for
use in a range of end-markets. Locations in four countries,
combined with a wide distributor network, serve customers around
the world.
Essentra Extrusion is a leading custom profile extruder located
in the Netherlands which offers a complete design and production
service. One of the first companies to extrude plastics in 1956,
Essentra is now one of Europe's most advanced suppliers of
co-extrusion and tri-extrusion to all branches of industry.
The Security business has access to a wide portfolio of products
and services, including printers, software and consumables from
leading manufacturers.
Health & Personal Care Packaging
A leading global provider of packaging and authentication
solutions to a diversified blue-chip customer base in the
pharmaceutical, health & personal care, consumer and specialist
packaging sectors. The business focuses on delivering value-adding
innovation, quality and service through the provision of a wide
range of printed products and solutions, including cartons, tapes,
leaflets, foils, labels and authentication solutions.
The Speciality Tapes business has expertise in coating multiple
adhesive systems in numerous technologies. With close to 3,000
adhesive products available for same-day shipping, Essentra's
products can meet all high performance needs, from foam, magnetic,
finger lift and acrylic high bond tapes to hook and loop and
non-skid foam.
Filter Products
Essentra Filter Products is the only global independent
cigarette filter supplier. The nine worldwide locations, including
a dedicated Technology Centre supported by three regional
development facilities, provide a flexible infrastructure
strategically positioned to serve the tobacco industry. The
business supplies a wide range of value-adding high quality
innovative filters, packaging solutions to the roll your own
segment and analytical laboratory services for ingredient
measurement to the industry.
Headquartered in the United Kingdom, Essentra's global network
extends to 33 countries and includes c. 8,000 employees, 48
principal manufacturing facilities, 64 sales & distribution
operations and 4 research & development centres. For further
information, please visit www.essentraplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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