FACC Company News - Covid-19 update conference call takeaways
FACC organized a conference call today to give an update on the current developments in the Covid-19 crisis. The first impacts of the virus were only seen at the end of March and deliveries until then continued mostly according to plan (customers even taking deliveries when plants were shut down). Thus, the first quarter should remain relatively stable and the impacts are to be felt in April. Most customers had temporary shutdowns at the beginning of the month and announced temporary rate decreases which will also impact FACC in April and 2Q. Short time work will continue until June and might be extended over the summer months. When there is more visibility a restructuring of the business based on the environment going forward is likely. FACC will likely be able to provide more information in June.FACC AG is an Austria-based company engaged in the aerospace and defense industry. The Company specializes in the manufacture of aircraft parts and components. It divides its business into three divisions: Aerostructures, Engines & Nacelles, and Interior. The Aerostructures division covers control surfaces, fairings and wing components. The Engines & Nacelles division provides engine and nacelles components. The Interior division offers interior design services for commercial aircraft, business jets/private jets, freighters and helicopters. The Company's services range from on-site support with field engineering, spares service, and repairs to assembly training of customer staff for components and systems delivered by the Company. The Company's products are manufactured at four production sites in Austria.
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