Measures against Coronavirus contamination in recent weeks have reduced our social and business life to an unknown scale and put us to the test. These restrictions are likely to remain in place in the coming weeks. Preserving our health and the health of our loved ones - especially the elderly and those with other illnesses - is an absolute priority for us. Over the past week, we have taken a number of measures to reduce the risk of Covid 19 from spreading among our team. Fortunately, so far we have no infection among our associates. It is of the utmost importance, in any case, not to allow the contamination of our workers, which would have severe repercussions on our production. We ask that you strictly adhere to all regulations regarding social conduct. No compromise should be made in this respect.
Along with the health risks, the current crisis also has inevitable economic implications. We, as management, will do everything in our power to actively navigate the situation and keep the economic consequences for our enterprise and our associates as minor, as possible. In Italy, the whole industry that is not working to supply, feed and guarantee fundamental freedoms, has already stopped. In Germany, the car industry was suspended. There are also signs of an approaching storm in Bulgaria: some customers in the ceramics industry have announced they will stop temporarily, customers in the glass industry are reducing volumes. There seems to be a recession that will last at least a few months.
Successful and good years lied behind us. We used the time properly and now we are very stable. We will face the challenge of the coming months with a high spirit and determination! Over the past 100 years, Kaolin has been through many difficulties, so we will be able to endure this time, too. We count on your support and understanding!
Above all: stay healthy!
On behalf of the Management Board