Waldenburg, 18. June 2019 – The management board of R. STAHL AG resolved today to perform a recall of in total 34,500 lamps from the 6036 and 6149 series produced by R. STAHL Schaltgeräte GmbH, whose casing primarily consists of a polycarbonate tube. Tests have revealed that the long-term stability of the polycarbonate-tubes is not sufficiently provided in unfavourable operating conditions. Lamps affected stem from the production period between December 2017 to March 2019. So far, R. STAHL AG is not aware of any complaints or cases of damages in the market resulting from premature aging of the polycarbonate-tubes.
The management board of R. STAHL AG estimates, based on current knowledge, that the costs for the production and deployment of the lamps at the site of the customer in connection with this measure will amount to EUR 1.9 million in total. The management board assumes that these costs are covered by existing provisions. There are additional costs relating to the installation and removal, which are expected to be covered by the existing product liability insurance. Based on currently available information, the management board cannot exclude that customers may incur additional costs for which the company is liable without being able to take recourse against third parties and that the total costs of these measures might have a negative impact on the corporate results of the current financial year and the following financial years. If and to what extent the financial result will ultimately be strained, depends on the actual amount and nature of the costs resulting from the replacement of lamps, but also on the successful assertion of warranty claims towards the supplier of the polycarbonate-tubes.
About R. STAHL - www.r-stahl.com
R. STAHL is a worldwide leading supplier of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio ranges from products used in switching/distributing, operating/monitoring, lighting and signalling/alarming up to automation. Typical customers operate in the oil & gas industry, the chemical and pharmaceutical industry and the food industry. 1,690 employees generated an aggregate turnover worldwide in the amount of EUR 280.1 Mio.
The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).
Contact:
R. STAHL Aktiengesellschaft
Am Bahnhof 30, 74638 Waldenburg (Württ.)
Eberhard Walter
Head of Legal & Compliance
Phone: +49 7942 943-1395
E-mail: investornews@stahl.de
