Actions Taken by Swagelok to Minimize Risk and Facilitate Business Continuity During the COVID-19 Pandemic—March 12, 2020
Like you, Swagelok is continuously monitoring developments regarding the coronavirus (COVID-19). We share your concerns about its spread and impact across the interconnected global landscape, but we want you to know that our company is prepared to continue to serve you.
During this challenging time, we remain committed to maintaining the flow of products and services and mitigating potential business disruption.
We have rigorous risk mitigation and supply chain programs that account for some level of unplanned disruption. These plans ensure our ability to continue to service your needs with the quality and attention to detail you have come to expect.
You can be assured of the following:
- We have a dedicated task force which meets daily to monitor the situation, update our procedures and make critical decisions.
- All our plants are currently operational, including our facility in China. We will continue to follow local guidelines regarding the opening/closure of our facilities.
- We manage raw material—inventory and dual sourcing—through a rigorous program that mitigates supply disruptions.
- We are actively monitoring our supply chain and working with suppliers on advance planning should supply become constrained.
- We continue to monitor and manage all inventory levels taking into account current business and economic conditions.
- We are managing our outbound supply chain to ensure early identification of issues and are using alternative modes as necessary.
- We are working with our authorized sales and service centers to ensure strong local inventory positions and access to critical parts based on customer needs.
- Our corporate supply chain is doing additional assessment and modelling in case the pandemic is prolonged.
These actions are in addition to the precautionary measures already in place to ensure the health and safety of our associates, customers, and community. Since January, we have limited or suspended business travel, cancelled corporate meetings and events, increased our corporate hygiene practices, and issued notices on COVID-19 symptoms and prevention to our associates.
We continue to review the recommendations made by the Centers for Disease Control (CDC) and World Health Organization (WHO) as the situation changes and make decisions out of an abundance of caution and in accordance with our values.
Thank you for your continued support and trust in our company. We will continue to adjust our plans as the situation evolves and remain committed to collaborating with you—our customers—and our supply chain to meet demand.
Thomas F. Lozick
Chairman, President and Chief Executive Officer