From the Sector

All proposals submitted by the Board of Directors were approved at the Annual General Meeting of Autoneum Holding Ltd. In view of the net loss in the 2019 financial year, a dis-tinct majority of shareholders agreed to the proposal to forgo a dividend payment.

In consideration of COVID-19 Ordinance 2 of the Federal Council, no shareholders were admitted to physically attend the Annual General Meeting on site. The Company therefore requested the shareholders in advance to transfer their votes to the independent voting proxy. He represented 59.8% of the total 4 672 363 shares issued.

The shareholders approved the 2019 Annual Report including the consolidated and annual finan-cial statements. Given the significant net loss in the 2019 financial year shareholders approved the proposal submitted by the Board of Directors to forgo a dividend. Hans-Peter Schwald, Chairman of the Board of Directors, stressed: “Autoneum aims to distribute at least 30% of net profit attributable to Autoneum shareholders as dividends. Unfortunately, Autoneum did not generate a profit in 2019, mainly due to impairments. This development is unacceptable for both, the Group Executive Board and the Board of Directors, and together with the employees we are doing every-thing possible to get back on the road to success. Nevertheless, the Board of Directors and the Group Management will continue to adhere to their long-standing dividend policy and thus ensure that shareholders participate appropriately in the Company's success.”

Chairman Hans-Peter Schwald and the other members of the Board of Directors, Rainer Schmückle, Norbert Indlekofer, Michael Pieper, This E. Schneider, Peter Spuhler and Ferdinand Stutz, were confirmed in office. This E. Schneider, Hans-Peter Schwald and Ferdinand Stutz were also re-elected to the Compensation Committee. In addition, a large majority of the shareholders of Autoneum Holding Ltd gave formal discharge to all members of the Board of Directors and the Group Executive Board.

The consultative vote on the 2019 remuneration report was approved by 89.2%. The proposals for the remuneration of the Board of Directors and the Group Executive Board for the 2021 financial year as well as the other proposals were also approved by a large majority.

• Bangladeshi supplier offers production capacity to produce face masks and PPE on non-profit basis
•  Reaching out to global agencies to build partnerships to help tackle COVID-19 crisis

A Bangladeshi garment manufacturer is offering the manufacturing capacity for the production of protective face masks and Personal Protective Equipment (PPE) on a non-profit basis to help tackle the COVID-19 global pandemic.
Many hospitals in Europe and USA are already running short of masks and PPE as they creak under the strain of the pandemic.
At present, COVID-19 is most prevalent in Europe, where demand for surgical masks and other protective garments has increased this past two months. However, other countries – including Bangladesh – are several weeks behind Europe but are expected to follow the same pattern in terms of cases and deaths.

Denim Expert Limited Managing Director, Mostafiz Uddin, has reached out to the global community including brands & retailers, governments, embassies, donors, development agencies, global apparel associations and bodies in these unprecedented times.

As a result of the global COVID-19 crisis, the Lenzing Group expects based on recent developments a negative impact on its textile sales volume. The potential impact cannot yet be reliably estimated, as it strongly depends on the duration of the crisis as well as its further effects on the global economy and textile markets. Consequently, Lenzing suspends its result forecast for 2020 as disclosed on March 12, 2020, when it expected the result for 2020 to be below the level of 2019. In order to mitigate a potentially stronger than expected decline in earnings, Lenzing has already started to implement cost saving measures across its sites globally.

Textile and nonwoven associations issued a joint statement today urging federal, state and local governments to deem textile and nonwoven manufacturing facilities as “essential” when drafting “Shelter in Place” orders in response to the COVID-19 crisis.

Our associations recognize the serious challenges our elected officials, health administrators, and others are facing when issuing orders to protect communities across the country and we understand the necessity for leaders to enforce a ‘Shelter in Place” order or quarantine orders.

Our members make a broad range of inputs and finished products used in an array of personal protective equipment (PPE) and medical nonwoven/textile supplies, including surgical gowns, face masks, antibacterial wipes, lab coats, blood pressure cuffs, cotton swabs and hazmat suits. These items are vital to the government’s effort to ramp up emergency production of these critical supplies.

If workers who produce these goods are not granted an “essential” exemption from “Shelter in Place” and other quarantine orders to go to their manufacturing and distribution facilities, it will cause major disruptions in the availability of these goods. This will create significant hardship to healthcare providers and consumers across the country who depend on steady and stable supplies of these critical items.

We are asking the administration and state and local authorities to provide greater certainty and clarity for our companies and employees and ask for a clear exclusion of our manufacturing operations from “Shelter in Place” orders as the textile and nonwoven products that we make in the U.S. play an essential role in mitigating the shortages of critical supplies. Such a designation will help us avoid disruptions of vital goods and services during this challenging time.