French Companies Looking to Resume Production Soon - Forex News by FX Leaders
French Companies Looking to Resume Production Soon

French Companies Looking to Resume Production Soon

Posted Monday, April 13, 2020 by
Arslan Butt • 1 min read

Amid the continuing coronavirus crisis, French metals lobby has expressed interest in resuming operations by conforming to higher sanitary conditions even as the country awaits the government’s decision on whether the lockdown will be extended further. Later today, French President Emmanuel Macron is widely expected to make an announcement about a possible extension to the present lockdown which is scheduled to end on April 15.

The first lockdown has already caused industries to down their shutters for a period of 24 days, causing severe losses in output and revenues across automotive, steel, aeronautics and several other industries. In a recent interview with Le Parisien, president of the union of metals industry and businesses (UIMM), Philippe Darmayan highlights the growing risk of bankruptcies in the sector on account of the lockdown.

According to Darmayaan, “We will need a recovery plan…so that we can see clearly. It must be built quickly. Let us not add an economic and social drama to the health catastrophe.”

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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