Aumovio secures export exemption in Nexperia chip supply crunch, CEO says
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FILE PHOTO: Philipp von Hirschheydt, CEO of Aumovio SE rings the bell at the Frankfurt Stock Exchange as the auto supplier, which is being spun off from Continental will be included in Germany's benchmark blue-chip index for a single day of trading in Fra
BERLIN (Reuters) -Germany's Aumovio, one of the automotive suppliers facing pressure on its supply chains in the spat over Nexperia, has received an exemption from China to resume exports of the company's chips, its chief executive said on Friday.
"We applied for and received an exemption from the export restrictions. We received it the day before yesterday verbally, yesterday in writing," CEO Philipp von Hirschheydt said after the company reported its third-quarter results.
Regarding possible furlough measures prepared by the company as a precaution, he added, "We assume that this will most likely not be necessary."
(Reporting by Rachel More and Christina AmannEditing by Ludwig Burger)
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