VBG Group adapts its operations to the current market situation
VBG Group is constantly monitoring the development of the Covid 19 outbreak. Given the uncertain situation, it is not currently possible to predict the full potential impact on the business. Continuous risk assessments are being done daily and necessary measures are taken on an ongoing basis to protect our business. Given the fact that many large truck companies in Europe taken some drastic measures, VBG Group is now adapting its operations to the current market situation.
Agreements on short-term employment resizing are now in place and VBG Group will implement short-term employment resizing for parts of the staff in our operations, starting from 1st of April, globally in accordance with local regulations.
Anders Birgersson, President & CEO
Telephone: +46 521-27 77 67
VBG Group AB (publ), domiciled in Vänersborg, is the Parent company of an international engineering Group with wholly owned companies in Europe, North America, Brazil, South Africa Australia, India and China. The Group’s operations are divided into three divisions – Truck & Trailer Equipment, Mobile Climate Control and Ringfeder Power Transmission – with products that are marketed under strong, well-known brands. VBG Group AB’s Series B share was introduced on the stock exchange in 1987 and is listed today on the Nasdaq Stockholm Mid Cap list.
This information is of the type that VBG Group AB is obligated to disclose in accordance with the EU Market Abuse regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10:00 am. on 24th of March 2020.