In order to keep an adequate balance between supply and demand, thus to avoid building unnecessary stock throughout the supply chain, Navigator has decided , to temporarily reduce the UWF paper production capacity immediately by approximately 15%, a level that can be reviewed in the coming weeks according to the market evolution.
Until mid-March, Navigator had the second highest order book ever in its history. However, in the last five weeks, due to the COVID crisis that is affecting our economies, with the consequent lockdown of schools, offices, retailers and other business sectors that had a clearly negative impact in printing and writing paper consumption, Navigator experienced a reduction of orders, as well as, several postponements to the end of Q2 and Q3.
Hence, Navigator will reconsider this decision on a continuous basis and adjust it according to the evolution of demand. Navigator is continuously reviewing its contingency plan, keeping its key objectives unchanged concerning the health and protection of the staff, suppliers and customers and keeping the industrial sites and offices in safe and healthy conditions.
Navigator will continue to take all reasonable measures to contain COVID-19 risks and maintain business operations.