TPI Composites, Inc. Announces Temporary Reductions and Suspensions of Production at Certain of its Facilities and Updated Financial Outlook
TPI Composites, Inc. (TPIC)
Last tpi composites, inc. earnings: 2/27 04:01 pm
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US:NASDAQ Investor Relations:
tpicomposites.com/english/investors/default.aspx
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Source: GlobeNewswire
SCOTTSDALE, Ariz., April 03, 2020 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (Nasdaq: TPIC), the only independent manufacturer of composite wind blades with a global footprint, today announced that it is currently operating its Chennai, India, manufacturing facility with a skeleton staff through April 15, 2020 and that it will temporarily operate its Matamoros, Mexico facility at reduced capacity beginning on April 3, 2020 through April 30, 2020. TPI also stated that it will operate its Izmir, Turkey manufacturing facilities at approximately 50% capacity during the first half of April. TPI’s decision to temporarily reduce or suspend production at these manufacturing facilities is due primarily to certain applicable government-mandated stay at home orders in response to the COVID-19 pandemic which resulted in demands from its unions in Matamoros and Turkey to either stop or reduce production. These temporary reductions and suspensions of production may last longer than TPI currently a
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