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F&N dairies product plant affected by Thai floods
by hlk Tue 11 Oct 2011, 21:32
KUALA LUMPUR: Fraser and Neave Holdings Bhd’s share price fell on Tuesday, Oct 11 after its dairies product manufacturing operations in Ayutthaya, Thailand was affected by the floods.
F&N’s share price closed eight sen lower at RM16.22, trailing the upbeat close on Bursa Malaysia.
F&N said the facilities in Rojana Industrial Park, Ayutthaya, under its unit F&N Dairies (Thailand) Ltd had ceased operations on Tuesday morning due to the severe floods.
“At this time it is not possible to assess the extent of the damage. The group will provide an update on the effect of the flood after employees regain access to the plant and are able to carry out an assessment of the damage, lead times for obtaining replacement parts and components and repairs, and restoration of supplies,” it said.
F&N said crisis management teams have been activated and the management’s priority would be to ensure the continued safety of employees and to minimise disruptions to its customers.
“The group has in place a property all risk and business interruption insurance cover in respect of its Thailand operations,” it said.
F&N’s share price closed eight sen lower at RM16.22, trailing the upbeat close on Bursa Malaysia.
F&N said the facilities in Rojana Industrial Park, Ayutthaya, under its unit F&N Dairies (Thailand) Ltd had ceased operations on Tuesday morning due to the severe floods.
“At this time it is not possible to assess the extent of the damage. The group will provide an update on the effect of the flood after employees regain access to the plant and are able to carry out an assessment of the damage, lead times for obtaining replacement parts and components and repairs, and restoration of supplies,” it said.
F&N said crisis management teams have been activated and the management’s priority would be to ensure the continued safety of employees and to minimise disruptions to its customers.
“The group has in place a property all risk and business interruption insurance cover in respect of its Thailand operations,” it said.
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