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11.08.2020 Tornos SA A - Machines

Tornos faces major challenges

It is extremely difficult to provide an outlook at present due to the current uncertainties. Tornos faces great challenges. The Group is expecting a slow recovery of the global markets in 2021.

  • Decline in demand from automotive industry and corona pandemic have a negative impact on half-year results
  • Marked increase in allowance on inventory puts additional pressure on earnings
  • Cost-cutting measures consistently continued
  • Jens Thing new Chief Sales Officer and member of the General Management

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