BATM Advanced Communications Limited says too early to assess impact of


The group expects its Bio-Medical division to perform well during the global lockdown period and the Networking & Cyber division to experience a temporary slowdown

BATM Advanced Communications Limited () has issued a coronavirus-focused update in which it says the pandemic has not been all bad for its business.

The group expects its Bio-Medical division to perform well during the global lockdown period and the Networking & Cyber division to experience a temporary slowdown.

Given the uncertainty surrounding the length and economic severity of the crisis, it is too early to estimate the financial impact on the company for the whole of 2020, the provider of real-time technologies for networking solutions and medical laboratory systems said.

As previously announced, BATM has launched a new diagnostics kit to detect coronavirus (COVID-19) that received certification in March 2020. Since then, production and sales have been ramping up.

The group is also in the process of developing, in partnership with Novamed, a rapid COVID-19 diagnostics kit for home-use testing, which is expected to be complete within the next three months.

The group said its primary facilities in the Bio-Medical division, in Israel, Italy and Hungary, have remained operational throughout the lockdown period. They are able to produce at a substantial capacity despite the measures taken to ensure the health and safety of employees in those locations as well as several regulatory limitations and other impacts of lockdown, BATM said.

In the Networking & Cyber division, the group’s facilities have remained open in both Israel and the US subject to public health controls, it added. During the first quarter of 2020, the effect of the outbreak was minimal but some customers are temporarily postponing certain projects and the group is currently unable to perform some activities due to the restrictions on travelling to the premise of a customer or a supplier.



Read MoreBATM Advanced Communications Limited says too early to assess impact of

0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x