SEGUIN, Texas, March 26, 2020 /PRNewswire/ --Alamo Group Inc.
(NYSE: ALG) today announced that several of its manufacturing
operations are either temporarily closed or reducing their level of
production due to repercussions from the COVID-19 pandemic.
Most of the Company's products have been deemed essential in the
various jurisdictions where the Company operates, so while many of
the Company's facilities continue to operate with minimal
disruption, several locations are operating at reduced capacity or
are temporarily closed due to a combination of health concerns,
government directives, supply chain disruptions and customer
restrictions.
Previously, the Company announced the temporary closure of its
facilities in France, and while
those facilities remain closed, they are working on plans to resume
limited production in the second half of April. Additionally,
Alamo's two UK facilities will be
temporarily closing this week, but like our French operations,
expect to be operational by the second half of April or as of such
time as the impacts of coronavirus are mitigated. In North
America, the Company's Super Products Plant near Milwaukee also closed temporarily on Monday,
but is expected to reopen in a few days, and several of our other
operations are furloughing some of their workforce temporarily due
to the factors listed above. Plus, all of the Company's
plants are experiencing somewhat higher levels of employee
absences, as some employees are self-quarantining, others are
staying home to care for children out of school and still others
are out for normal reasons of absence. It should also be
noted that the Company has approximately 500 employees working
remotely and that number is growing daily as conditions allow.
Despite the above challenges, Alamo Group continues to conduct
business and meet most customer requirements in a timely
fashion. Even the Company's operations that are temporarily
closed have the capability to meet the most urgent needs of our
customers.
All in all, Alamo continues to
function, albeit at a reduced level. In doing so, we are
committed to the safety and wellbeing of our employees and continue
to ensure our facilities follow all the recommended standards for
safety and hygiene. At the same time, we will continue to
support the needs of our customers to the extent we are
capable.
We appreciate that this is a difficult situation for all
concerned and want to thank everyone for their understanding and
support. We also wish everyone well in these uncertain
times.
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution
and service of high quality equipment for infrastructure
maintenance, agriculture and other applications. Our products
include truck and tractor mounted mowing and other vegetation
maintenance equipment, street sweepers, snow removal equipment,
excavators, vacuum trucks, other industrial equipment, agricultural
implements, forestry equipment and related after-market parts and
services. The Company, founded in 1969, has approximately 4,270
employees and operates 30 plants in North
America, Europe,
Australia and Brazil as of December
31, 2019. The corporate offices of Alamo Group Inc.
are located in Seguin, Texas.
Forward Looking Statements
This release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which
may cause the Company's actual results in future periods to differ
materially from forecasted results. Among those factors which could
cause actual results to differ materially are the following: market
demand, competition, weather, seasonality, disease outbreaks such
as COVID-19 and the impacts stemming from any such outbreaks
including supply chain disruptions, operational disruptions, full
or partial facility closures, and other similar impacts,
currency-related issues, and other risk factors listed from time to
time in the Company's SEC reports. The Company does not
undertake any obligation to update the information contained
herein, which speaks only as of this date.
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SOURCE Alamo Group Inc.