The consequences of the coronavirus are unparalleled: while physicians, hospital staff, and scientists are doing everything possible to contain the pandemic, airlines are grounding flights and global enterprises are stopping production. Around the world, governments and parliaments are agreeing financial rescue packages of hitherto unimagined dimensions on a daily basis. The virus is not only attacking our health, it is also disrupting supply chains and the flow of goods, bringing entire industries to the brink of collapse and changing all our lives.
Even strong and healthy companies such as PALFINGER are hugely impacted. As a consequence of this development, PALFINGER is expecting huge falls in demand and reduced production, resulting in half-year and annual profitability figures significantly below those of 2018 and 2019.
Health & safety
It is precisely in such situations that PALFINGER will do everything in its power to maintain its production and operations, sales and service as far as possible, whilst remaining in constant communication with the public health authorities. Now, more than ever, it is vital to consider both health and safety. The one determines the other.
Continuing to operate enables PALFINGER to fulfil its obligations to partners and customers, as well as to generate earnings. In turn, this serves to secure both the company’s future and, with it, jobs. At the same time, in Austria and also in other countries the Group is taking advantage of the option of short-time work in order to reduce costs and retain employees
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“My responsibility is to protect jobs and ensure health and safety,” says PALFINGER CEO Andreas Klauser. “Our successes and structural reforms in recent years provide us with a solid basis to react to these tremendous challenges together.” The PALFINGER sites in China are now beginning to gradually ramp up operations once again and are sending protective masks to Europe as a sign of solidarity.
“The crisis demands everything from us. But there is an opportunity in every crisis. More than ever before it helps us to see ourselves more as a PALFINGER family – as ONE PALFINGER. Together we will overcome this crisis and start over again!”