Temporary suspension of activity on a production line
Saint-Jean-de-Soudain, December 3, 2019, 5:45pm CET – Serge Ferrari Group (FR0011950682 - SEFER), which designs, manufactures and distributes innovative flexible composite materials, would like to provide further details regarding the start of a fire that was reported on Sunday December 1st at around 5:30 pm on one of the production lines at the La Tour-du-Pin site.
This incident was quickly contained by firefighters. No physical injury was reported and initial investigations have excluded any pollution risk.
The company is currently working on determining the exact causes of this event in order to guarantee the total safety of the facilities and employees when production restarts.
All steps are being taken to ensure that production resumes as quickly as possible. This will be gradual on the coming days, with the restart of production equipment that has not been impacted and that has been shut down for safety reasons.
Meanwhile, the Group is working to limit the impact of the production interruption on its customers.
This event will impact 2019 financial year sales. The financial impact is currently being assessed, but its consequences should nevertheless be limited thanks to the company's risk coverage policy.
ABOUT SERGE FERRARI
The Serge Ferrari Group designs, makes and distributes high-tech eco-responsible flexible composite materials in a global market with an estimated medium-term value of €6 billion. The unique characteristics of these products make them ideal for technical applications in three fields: architecture, specialties for industry professionals, and composite membranes for the consumer market. Its main competitive advantage is based on the implementation of differentiating proprietary technologies and know-how. The Group has three production sites: one in France and two in Switzerland. Serge Ferrari operates in 80 countries via eight subsidiaries (USA, Japan, Hong Kong, Brazil, India, China, Turkey and Germany), two sales offices (Spain and Dubai), the distribution business of the Giofex Group in Europe, and a network of over 100 independent distributors world-wide.
At the end of 2018, Serge Ferrari posted consolidated revenues of €185 million of which 75% was achieved outside France. The company SergeFerrari Group is listed on Euronext Paris – Compartment C (ISIN code: FR0011950682). The SergeFerrari Group share is eligible for PEA-SME and FCPI Investment.