Wolftank-Adisa Holding AG, based in Innsbruck, which through its subsidiary Wolftank Adisa Shanghai Environmental Technology Ltd. is also active in China in the field of environmental protection and tank refurbishment, on the current situation of the company in China:
The WHO has declared a ‘health emergency of international importance’ this morning due to the coronavirus epidemic. In response and in consultation with all stakeholders involved in our China business, it was decided to extend the current company holiday of employees in China on the occasion of the Chinese New Year (Spring Festival) until February 10th. Although this has had little negative impact on business success so far, the management nevertheless points out, that if there are further delays in current and upcoming projects in 2020, there will be significant reductions in Revenues, Ebitda and pre-tax profit.
“However, we are confident that if the situation is normalised in the first quarter, this effect will be compensated by already planned capacity expansion measures in the second half of 2020,” says Dr. Peter Werth, CEO of the Wolftank Group after in-depth analysis of the situation with the management of the Chinese subsidiary.
About Wolftank-Adisa Holding AG:
Wolftank-Adisa Holding AG is the parent corporation of an international group of companies focusing on environmental protection services for contaminated soils and facilities, remediation and monitoring of (large-scale) tank farms, as well as full-service engineering services for LNG- and petrol stations. The company is active worldwide and uses various patented application technologies with the aid of high-tech epoxy resins developed in-house.
Wolftank-Adisa Holding AG (ISIN: AT0000A25NJ6; WKN: A2PBHR) is trading on the Munich Stock Exchange and is also listed on the Vienna Stock Exchange in the direct market plus segment.
Here you find this adhoc announcement as a download:
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