SUMIDA: Company News

Flooding in Germany (2nd release)

June 20th 2013 Press Release

As already informed you on June 5, 2013 in our 1st press release, SUMIDA CORPORATION’s subsidiary, SUMIDA AG, that is one of our core production sites in Europe located near Passau in Germany, has been flooded in the water from the river Danube running near by the factory.

This is the second release to inform you of the latest situations on how we have been recovering from the damages. Now that draining the flooded water out of the factory has been finished, we are now speeding up the recovery efforts to clean the machines and equipments and get them back to the normal conditions. SUMIDA AG processes raw materials preparing for finished goods production at the factories in Romania and Slovenia. To minimize disruption to finished goods production we are trying to purchase more processed materials from outside suppliers, or to resume material processing elsewhere near the factory. It seems to take another month before getting back to the normal production schedule. We, Sumida group as a whole, will make every possible effort to minimize the impact on our customers from the damages caused by this flooding.

We have begun to estimate total damages and its effects on our profitability. We will inform you as soon as we have found the damages caused by this flooding will have a critical impact on our profit in the current fiscal year.

(Brief summary of SUMIDA AG)

Name: SUMIDA AG
Address: Dr. Hans-Vogt-Platz 1, D-94130 Obernzell, Germany
Representative: Paul Hofbauer
Capital: EUR 7,344,027
Shareholding: 97.04%
Employees: 398
Business: Development, manufacturing and distribution of electronic coils

 

Please click on the press release link above for the pdf version of this article.

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