3.10.2022 07:00:00 CEST | Tekna Holding ASA | Inside information
(Arendal, Norway/Sherbrooke QC, Canada - date month) Tekna Holding ASA (Tekna,
OSE: TEKNA), a world-leading provider of advanced materials to industry, today
announces an update on the machine and capacity improvement programme.
Tekna has several machines that produce advanced materials. The capacity
improvement programme is ongoing and the machines are being upgraded step by
step and one at a time. Output is consistently increasing, but at a slower pace
than planned towards the target of 70% increase. It is believed that the
solution to these challenges have been identified, and additional development
work is ongoing to confirm it. This will delay the schedule and the target of a
70% increase in output will not be reached by the end of 2022 as previously
communicated. The updated objective is to reach the stated target by the end of
first quarter 2023, but there is uncertainty related to this process
development.
This will result in a delayed increase in sales revenues for advanced materials,
which in the second half of 2022 is expected to be approximately at the same
level as in the second half of 2021. The full effect of the output increase will
not be reflected in the sales revenues until all machines are upgraded to the
new level.
Demand for advanced materials remains strong, and Tekna is paying close
attention to its customer's needs and ensuring that all contractual obligations
are being honoured.
DISCLOSURE REGULATION
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act. This stock exchange release
was published by Tekna Holding ASA, on 3 October 2022 at 7:00 CEST.
CONTACTS
* Arina van Oost, Investor Relations | VP Corporate Strategic Development &
Innovation, Tekna, +1 438 885 6330, Investors@tekna.com
ABOUT TEKNA HOLDING ASA
Tekna is a world-leading provider of advanced materials to industry,
headquartered in Sherbrooke, Canada.
Tekna produces high-purity metal powders for applications such as 3D printing in
the aerospace, medical and automotive sectors, as well as optimized induction
plasma systems for industrial research and production. With its unique,
IP-protected plasma technology, the company is well positioned in the growing
market for advanced nanomaterials within the electronics and batteries
industries.
Building on 30 years of delivering excellence, Tekna is a global player
recognized for its quality products and its commitment to its large base of
multinational blue-chip customers. Tekna's powder products increase productivity
and enable more efficient use of materials, thereby paving the way towards a
more resilient supply chain and circular economy.
https://www.tekna.com
LinkedIn: https://www.linkedin.com/company/tekna-plasma/
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847682/1781/2407/Download%20announcement
%20as%20PDF.pdf