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(Alliance News) - Shares in Volex PLC jumped Monday as the power products maker confirmed all of its plants in China are now back up-and-running.
Volex was trading at 159 pence per share on Monday morning in London, up 7.4%.
Richmond, London-based Volex was forced to close down all of its plants due to the coronavirus outbreak in China. Three of its plants are in Guangdong province in the south of China and one is in the east of the country, in Jiang-Su province.
Guangdong is some 1,000 kilometres from the centre of the outbreak, Wuhan, and Jiang-Su some 600 kilometres away. Wuhan is the capital city of Hubei province.
"We are pleased to announce that all of our four sites in China have now resumed operations, albeit at a reduced capacity," said Volex.
Last week, Volex had said one plant was now back operational, at lower capacity, with the firm awaiting regulatory approval to re-open the other three.
The company did not give any financial details over what the impact of the closures might be.
By George Collard; georgecollard@alliancenews.com
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