10/03/2022
TN International has watched the unfolding crisis in Ukraine with great sadness, which is shared across our entire organisation. We join with people everywhere in hoping for peace. We are doing everything we can to support colleagues in Ukraine, as they and their families do their best to manage a frightening and arduous situation.
We have received various enquiries from customers and other stakeholders as to the impact of the crisis on the TN International business. Our production capacity is entirely undiminished. Indeed, it has been substantially enhanced by recent strategic investments in both organic plant development and acquisitions. The completion of a new Stone Wool factory in Wykroty, Poland, and the addition of the Chesterfelt bituminous roofing plant in Chesterfield, UK, to the TN International family, are two examples from just the past few months. Moreover, our business has not historically been impacted by sanctions and we anticipate that this will remain the case for imported product.
Therefore, we assess that we will continue to be able to deliver our usual great product and service offers to customers in our key markets. Of course, we commit to keeping you informed as the situation develops.
Financially, TN International is in a very robust position, and we retain undiminished capability to continue our ambitious programme of strategic investment to maintain our rapid growth and development. We can confirm that our banking arrangements are all based in Europe and are unaffected by the current situation. The leadership of our European business is diverse, stable and mature. In the acquisition process for several of our European assets we have been subjected to detailed due diligence processes and scrutiny by relevant statutory authorities in different geographies and have passed all.