Date: 15 May 2017
1. Summary and background
- (1) Summary of cold repair
The repair, which was originally planned in FY2020, will be carried out in FY2018.
- (2) Background
As announced on 6 March 2017, parts of the buildings and other properties at the Ottawa plant where the furnace is located were damaged by the tornado on 1 March 2017 (Japan time).
The furnace itself was intact and has been kept on hot hold. After considering options, it was determined that expediting the cold repair in parallel with the repair of the storm damages was the best approach.
- During the repair, products will be shipped from the inventory at Ottawa or from other Group plants.
The repair is expected to take longer than usual and the furnace is planned to resume production in December 2017.
The financial impact of the cold repair on net profit is considered immaterial.