Manz AG Resumes Business Operations at Its German Locations as Planned After COVID19-Related Shutdown

Workforce at German sites resumes work after Easter

PVTIME - Manz AG, a global high-tech engineering company, will resume
business operations at its German locations in Reutlingen and Tübingen as
planned after Easter. As a result of the Covid19 developments in Europe and the
protective measures prescribed and recommended by the German federal government
and the European Commission, the Management Board had decided to suspend
operations in Germany and Italy for around three weeks. 

Martin Drasch, CEO of Manz AG: "Over the past few weeks we
have talked to numerous business partners about the current situation, which is
currently affecting everybody each day. The feedback we have received has
strengthened our conviction that the decision to shut down operations in an
orderly and structured manner was the right one and was also taken at the right
time: on the one hand, of course, to protect all employees and their families,
and on the other hand also for economic reasons. Due to the restrictions
imposed on us and our business partners, efficient work processes were simply
not possible. Therefore, nothing would have damaged our reputation as a
reliable partner more than an uncoordinated and inefficient maintenance of the
status quo at that time. We used our time efficiently to define the further
course of action with our business partners. All of our clients are continuing
the projects they have already commissioned at Manz. We are in regular contact
with our clients with regards to upcoming project orders, and expect further
orders to be made in the near future. So the main thing for us now is to look
ahead again.“

Operations in Reutlingen and Tübingen will be resumed,
taking into account that measures such as distance regulations or travel
restrictions will remain in place after Easter. For example, office staffing
will be divided between two shifts and home office. In addition, in close
consultation with employee representatives short-time working has been
requested at the two German locations for that part of the workforce for which
a return to full working capacity is currently not fully possible due to travel
restrictions, especially regarding assemblies at customer sites. The average
reduction in work per employee at the two locations amounts to around 25
percent, so that the company has around 75 percent of the personnel capacity at
both locations at its disposal to fully process current orders. The R&D
site in Italy will continue to work from the home office until further notice
due to nationwide exit restrictions. 

In addition, the Management and Supervisory Boards of Manz
AG and the first management level will also contribute to securing jobs at the locations
by waiving parts of their salaries.

The Management Board of Manz AG is closely monitoring
further developments in politics and the economy as a result of the spread of
the coronavirus, and will react to changes in the general conditions in a reasonable
and timely manner.