Swedish Stirling: Prudent measures during uncertain times – Introduce
Preventative actions causing delays but bring cost savingsIn the light of the ongoing Covid-19 outbreak and subsequent macro-economic uncertainties, Swedish Stirling has announced an action plan to ensure the stability in the business during a potential long-term crisis. The plan revolves around re-priorities and delays of already contracted projects, of which 3 key initiatives are decided: 1) the ongoing energy project with Afarak Mogale will be terminated, and staff at the site will be transferred to the new pilot project with Samancor; 2) renegotiations with consultants & suppliers is done immediately and development of PWR BLOK 3. 0 is delayed up to 6 months; 3) the planned listing on Nasdaq Main Market will be delayed for now and can be revisited every 6 months. The plan is expected to provide saving of SEK 1m per month.
