One of the biggest names in motoring, Ferrari, has announced plans to reopen its factories on April 14th after suspending operations since March 15th following a severe breakout of coronavirus cases in Italy.
The Prancing Horse said in a statement that its Maranello and Modena factories will come online on the condition that the supply chain is uninterrupted. However, its April 14th date can be postponed if the Italian government extends the shutdown of non-essential activities.
In an official press release, Ferrari said “All activities that can be conducted in smart working will continue to be performed as has been the case in recent weeks. The company will continue to cover all days of absence to those unable to take advantage of this solution.
“Given the huge uncertainty and lack of predictability that the Covid-19 has created, the Company is taking all appropriate actions to assure the wellbeing and welfare of its employees and that are deemed to be in the best interest of all stakeholders.
“The Company anticipates that it will be in a position to provide further financial guidance to the investment community during its first quarter earnings’ call on May 4, 2020. It remains confident that in view of its brand equity, strong balance sheet and sound business model it will continue to create value for all stakeholders beyond the near term uncertainties.”
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