AAC Clyde Space takes measures to mitigate Corona effects

2020-03-17 AAC Clyde Space AB (publ)

The recent evolution of the coronavirus pandemic has taken us all to uncharted territory. We face a continuously changing situation, affecting not only our own countries but also our global clients and suppliers. I would like to share with you how we at AAC Clyde Space will continue to deliver our products and services in the coming weeks, and what changes to our day to day work will take place. The measures are intended to ensure that we can continue our operations as close to normal as possible.

We have been carefully monitoring the advice of the World Health Organisation and of the national health authorities in Sweden and the United Kingdom for the past several weeks. We developed an internal plan to address the impact of the outbreak on our business and our staff. As the situation evolved over the past week, we updated the plan, introducing a set of new policies and working practices. The new policies and practices went live on Friday, 13th and cover some key aspects of our day to day work.

Our facilities will remain open, but we are making as much use of remote working as practically possible. Staff that can work effectively from home are being requested to do so. This covers around 70% of our staff, with the remaining being involved in manufacture activities that will continue normally in our facilities.

We have introduced a ban on near term travel to reduce the risk of contagion and stop our people getting stranded by border closures or quarantines. We had already cancelled our participation at the Space Symposium and will not participate in other conferences or exhibitions in the next two months. And although we really enjoy receiving clients, business partners and other visitors in our facilities, for the next few weeks we are asking that we meet electronically rather than in person.

Lastly, we are working with our supply chain to ensure that we have the supplies we need to be able to deliver our current and future orders. The management team is continuously maintaining our internal Business Continuity Plan to ensure that we deliver the products and services that our customers expect, on-time.

These are challenging times and we are working to minimize disruption to our operations. We will continue to monitor the situation and provide updates over the next few weeks. We remain open, and at least for now, it is business as usual even if with some adaptations to our working practice.

AAC Clyde Space continue to operate as normal within our regular office hours of 8.30am to 5pm, in Sweden and the UK. Should you have any questions at this stage, please do not hesitate to get in touch. Our contact details can be found here https://www.aac-clyde.space/contact-us

Best Regards
Luis Gomes

Please visit: www.aac-clyde.space or contact:
CEO Luis Gomes [email protected]
CFO Mats Thideman, [email protected], mobile +46 70 556 09 73

The group AAC Clyde Space offers turnkey solutions and services from mission design to on-orbit operations, including reliable customizable satellite platforms in the range of 1 to 50 Kg and a full range of subsystems for cube and small satellites. With unrivalled flight heritage and end-to-end service, AAC Clyde Space enables customers to reach their mission goals through a single, trusted point of contact.

AAC Clyde Space's shares are traded on Nasdaq First North Premier Growth Market. Erik Penser Bank AB, e-mail [email protected], telephone +46 8 463 83 00, is the Certified Adviser.

Om AAC Clyde Space

AAC Clyde Space erbjuder satellitmarknaden avionikprodukter (elektronik för rymd) med fokus på datahantering såsom omborddatorer och massminne samt strömförsörjning.

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Marknad Nasdaq First North Premier Growth Market Kortnamn AAC ISIN-kod SE0021020716 Certified Adviser Carnegie Investment Bank


Mats Thideman CFO och vice VD [email protected] +46 70-556 09 73