Partial Line Production Disruption... Damage Recovery Scheduled
Gyeyang Electric announced on the 28th that production on some lines within Building 1 of the Cheonan plant has been disrupted. The sales loss due to the production halt (annual basis) amounts to 33.1 billion KRW, which corresponds to 8.7% of recent sales.
The company stated, "Due to heavy snowfall on the 28th, part of the roof of Building 1 at the Cheonan plant collapsed," and added, "We will resume production through damage restoration and installation of temporary production facilities." The company also noted, "The facility is covered by comprehensive property insurance that compensates for restoration costs and business interruption losses caused by natural disasters."
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