Pipeline gear maker Tekmar sinks as coronavirus halts China shipments

(Reuters) - UK-based Tekmar Group warned on Tuesday its full-year earnings for 2020 would now be only flat compared to 2019, saying the coronavirus outbreak had halted all shipments to China and supplies, sending its shares down as much as 38%.The company, which provides protection systems for subsea pipelines, had said previously that it was on track to meet market expectations for 2020 and would report record revenues in 2020. It reported adjusted core earnings of 4.8 million pounds for the..