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Trio-Tech Temporarily Closes Facility to Comply with Tianjin City COVID-19 Safety and Restriction Measures
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Negative)
Tags
covid-19
Rhea-AI Summary
Trio-Tech International (AMEX: TRT) has confirmed full compliance with the lockdown measures imposed by the Tianjin City Government due to a COVID-19 outbreak. The lockdown affects its Tianjin operations and necessitated the temporary closure of its production line. CEO S.W. Yong emphasized the company's commitment to health and safety, stating they are taking stringent measures to protect employees and the community. Trio-Tech plans to resume operations once the city allows it. Established in 1958, Trio-Tech specializes in semiconductor testing services and equipment.
Positive
The company is compliant with local COVID-19 lockdown measures, reinforcing its commitment to health and safety.
Negative
The temporary closure of the Tianjin facility's production line may disrupt operations and impact revenue.
VAN NUYS, Calif.--(BUSINESS WIRE)--
Trio-Tech International (NYSE MKT: TRT) today announced that it is in full compliance with the Tianjin City Government’s Business Closure lockdown.
S.W. Yong, Trio-Tech’s CEO, said, “In response to a local COVID-19 outbreak and in compliance with China’s ZERO-Covid policy, the Tianjin city government imposed lockdown measures for mandatory testing of its Tianjin city’s residents which affected Trio-Tech’s Tianjin China Operations and required us to close our facility’s production line.”
“Trio-Tech is seriously concerned with the threat posed by spread of COVID-19 and has ensured that stringent health and safety measures are in place throughout our facilities. It is the utmost concern of Trio-Tech to defend and support the health and safety of all our employees, customers, suppliers and the Tianjin community as a whole. We will actively address this closure and proactively work with our customers and suppliers to manage and minimize the impact of this temporary closure. We plan to resume operations once the city government allows for the reopening of businesses,” added Mr. Yong.
About Trio‑Tech
Established in 1958, Trio-Tech International is located in Van Nuys, California, with its Principal Executive Office and regional headquarter in Singapore. Trio-Tech International is a diversified business group with interests in semiconductor testing services, manufacturing and distribution of semiconductor testing equipment, and real estate. Our subsidiary locations include Tianjin, Suzhou, Chongqing in China, as well as Kuala Lumpur Malaysia and Bangkok Thailand. Further information about Trio-Tech's semiconductor products and services can be obtained from the Company's Web site at www.triotech.com and www.universalfareast.com.
What recent measures has Trio-Tech International (TRT) taken regarding COVID-19?
Trio-Tech has announced compliance with lockdown measures mandated by the Tianjin City Government due to a COVID-19 outbreak, leading to the temporary closure of its production line.
How will the lockdown in Tianjin affect Trio-Tech International's operations?
The lockdown has resulted in the temporary closure of Trio-Tech's Tianjin facility, which may disrupt operations and affect revenue.
When will Trio-Tech International (TRT) resume operations in Tianjin?
Trio-Tech plans to resume operations once the Tianjin city government permits the reopening of businesses following the lockdown.
