BRIEF-Lynas Announces Temporary Halt To Production At Lynas Malaysia Plant

Reuters

22 March 2020 at 7:19 pm·1-min read

March 23 (Reuters) - Lynas Corporation Ltd:

* TEMPORARY HALT TO PRODUCTION AT LYNAS MALAYSIA PLANT-LYC.AX

* EXPECTS TO ACHIEVE POSITIVE CASH FLOW FROM OPERATIONS DURING MARCH QUARTER

* INITIATED A SAFE TEMPORARY SHUTDOWN OF MALAYSIAN PLANT INTO CARE & MAINTENANCE MODE

* TEMPORARILY CEASED PRODUCTION AT MALAYSIAN PLANT IN RESPONSE TO MALAYSIAN GOVERNMENT CONTROLS IN LIGHT OF CORONAVIRUS

* AS PART OF TEMPORARY SHUTDOWN IN MALAYSIA, RETAINED SOME WORK-IN-PROGRESS INVENTORY TO ALLOW CO TO RAMP UP UPON RESTART

* TAKEN ACTION TO REDUCE CASH OUTGOINGS DURING TEMPORARY SHUTDOWN; TO CONTINUE TO PAY ALL STAFF DURING THIS TIME Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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