Patrick Industries, Inc. provided a business and operations update regarding the coronavirus (COVID-19) pandemic. The company will temporarily suspend operations at certain of its facilities.
Andy Nemeth, President and CEO, said: “The suspensions, which are determined on a plant by plant basis, are currently expected to range from one to two weeks depending on government requirements or the demand needs of the specific markets in which we operate. We will continue to closely monitor the situation and will take the appropriate actions, as needed, as they relate to our operations, the health and safety of our team members, the communities in which we operate, our customers and all our other stakeholders. Certain facilities where local conditions allow or that are determined to be supplying products for an essential use will continue to operate, although with an elevated focus on safety. We strive to have, and continue to implement, best practices, policies and procedures as they continually evolve in conjunction with guidelines established by the Centers for Disease Control, the World Health Organization, and other government agencies to protect our team members, which is our highest priority."
"We believe we are well-positioned to drive our business and execute off of our operational and financial platforms in this uncertain time as we have a high variable cost, flexible business model firmly in place that allows us to quickly adjust our production levels as market conditions change," Mr. Nemeth further stated.
Patrick Industries, Inc. is a major manufacturer and distributor of component products and building products serving the recreational vehicle, marine, manufactured housing, residential housing, high-rise, hospitality, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets and operates coast-to-coast in various locations throughout the United States and in Canada, China and the Netherlands.
