Weimar, March 24, 2020 - IBU-tec advanced materials AG ("IBU-tec", ISIN: DE000A0XYHT5) reports on the current status regarding the effects of COVID-19. At present, production and services for customers are not significantly affected by the crisis. Existing customer orders are currently on schedule at all locations. As much as possible, IBU-tec has taken extensive precautionary measures not only to ensure the health of the employees but also to enable our parents to care for their children during the nationwide school closures. Despite the crisis IBU-tec is able to maintain business operations as usual.
Thus far, customers have made only minor modifications and postponements of orders for the coming months. IBU-tec has a robust order pipeline for the foreseeable future. The Management Board is closely monitoring the current situation, however the prospect of further business development, as with the economy and almost all industries, is at present significantly curtailed. The current level of enquiries from customers and interested parties shows that there is great demand for IBU-tec's business model as a flexible, available and variable outsourcing partner highly adaptable to current market conditions
Ulrich Weitz, CEO and major shareholder of IBU-tec advanced materials AG: “In the current crisis, the broad diversification of our company with several hundred individual projects per year and a large number of customers from a wide variety of industries is proving its worth. We make great efforts to protect the health of our employees while minimizing the economic impact on IBU-tec. So far, we have been doing well. Of course, like all other commercial companies, we must always be prepared to react to new situations. We are well positioned as a flexible service provider that addresses areas such as environmental protection and sustainability. After this crisis, the areas we focus on will have lost none of their importance. I am optimistic that we will master the current challenges well. I thank all employees for their tireless efforts and all customers for staying loyal to us.”
With regard to the Annual General Meeting for the 2019 financial year, IBU-tec is currently determining an appropriate time and method of implementation in light of the current situation.
The IBU-tec group develops and produces innovative materials of the highest quality for industry. It combines unique, partly patent-protected technology of thermal process engineering with the process and material know-how of approx. 250 highly qualified employees.
Among other things, the products are important components of battery materials for electromobility and stationary energy storage, as well as solutions for air purification, resource conservation, and the reduction of plastic packaging. IBU-tec is thus positioned in the long term in global megatrends - especially climate and environmental protection - and has an international customer base from innovative medium-sized companies to global corporations.
Further information can be found on the Internet at www.ibu-tec.de
Eschersheimer Landstraße 42-44
Tel. +49 (0) 69-905505-52
IBU-tec advanced materials AG
Tel. +49 (0) 151 67955683