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Tunisia: AMS sees sales drop by 81% at the end of Q3 2020

Overall net sales of “Les Ateliers Mécaniques du Sahel” (AMS) fell by 81% at the end of the third quarter of 2020, according to its financial statements.

This decline is mainly due to the closure of the company since the spread of the COVID-19 pandemic, the absence of invoicing for public contracts, and lower market demand, impacted by the economic situation of the country and particularly the real estate sector.

The AMS also mentioned the categorical refusal of the 3 banks to support the company in this Post-COVID period despite obtaining the state guarantee for financing related to this health crisis (SOTUGAR).

“Several attempts have been made to find arrangements but they all failed with the availability of several million dinars of goods at the port to restart activity, it explained.

Similarly, the AMS said that the value of the cumulative finished production recorded a decline of 82%, at the end of September 2020, compared to that of 2019, with an overall value of 3.5 million dinars (MD).

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