Impact of Cyclone Gabrielle - Update

 

In our release on 16 February 2023, Bremworth Limited (NZX: BRW) advised that Cyclone Gabrielle had impacted our Napier yarn spinning plant - with initial assessments confirming flooding at the site - and that a further update will be provided following a detailed assessment.

Bremworth is now able to advise as follows having completed a preliminary site assessment:

• There was widespread and extensive flooding throughout the Napier plant.
• We can confirm all of our people have been contacted and are safe.

• Napier is a key plant, supplying yarn to the carpet operation and dyed fibre to the Whanganui yarn plant and is likely to be offline for a yet to be determined, but significant, amount of time, and while we have inventory to meet current demand, we will be switching to alternative sources.
• Representatives of our insurers have visited the plant and we have commenced appropriate discussions.
• We will commence clean up as soon as we are able to gain full access to the site and will provide a further update once we are able to complete a detailed assessment.
  
  

Our thoughts are also with the residents in the Hawke’s Bay and Gisborne regions who have been impacted by Cyclone Gabrielle.

 

ENDS

 

Greg Smith

Chief Executive Officer

gregsmith@bremworth.co.nz

+64 21 711 622