Johnson Matthey PLC JM and COVID-19: supporting our stakeholders (4113K)
April 22 2020 - 2:00AM
UK Regulatory
TIDMJMAT
RNS Number : 4113K
Johnson Matthey PLC
22 April 2020
Supporting our stakeholders for today, and for the future
Johnson Matthey, a leader in science and sustainable technologies,
sets out the actions it is taking to support its employees, customers,
suppliers, shareholders and communities during the unprecedented COVID-19
pandemic.
At JM, we have a clear vision - to make the world cleaner and healthier
- and a set of strong values which are the principles we are using
to ensure we successfully navigate COVID-19 in the interests of our
stakeholders and society.
Throughout our long history, we have used our leading science to solve
our customers' problems and our science is at the heart of countless
products and services that the world relies on. Our teams are continuing
to work hard to manufacture vital drug ingredients and medical devices
for the healthcare industry and produce important catalysts and chemicals
that enable the world's food and energy supply chains.
More broadly, our COVID-19 commitments are designed to ensure that
our colleagues remain healthy and secure, our global teams can continue
to serve the needs of our customers safely and that our company supports
the local communities in which we operate. We continue to execute our
long term strategic plans to create value for our shareholders, and
we believe our commitments, alongside the actions we are taking to
preserve cash and strengthen our financial position, will support the
long term health of the business for all stakeholders.
Our colleagues
Our top priority is the safety, health and wellbeing of our 15,000
people. We are closely monitoring developments in the COVID-19 outbreak
and are taking the appropriate steps to help maintain the ongoing health
and safety of our employees. Johnson Matthey has:
-- Enabled working from home arrangements for all roles that can do
so;
-- Ensured the highest standards of safety in all working practices;
-- Enhanced our existing health and wellbeing support for all employees;
-- Put self-isolation procedures in place for employees who are displaying
symptoms or have been in contact with a confirmed infected individual;
-- Decided that we will not take any COVID-19 support from the UK government
for furloughed staff during April, May and June 2020 (Q1 of our 2020/21
financial year); and
-- Pledged to make no member of staff redundant as a direct result of
the impact of COVID-19 until the end of June 2020.
Our customers and suppliers
Johnson Matthey is an important part of the value chains that are providing
vital products and services to the healthcare industry, and that are
maintaining food and energy supplies during
COVID-19. We have:
-- Kept operations running for customers where it is safe to do so and
where government measures allow, so we are there when they need us;
-- Maintained our payment terms to support all of our suppliers; and
-- Pledged to support any small supplier to our business that is suffering
hardship and requests early payment terms as a result of the impact
of COVID-19 during April, May and June 2020.
Our communities
Our communities are at the heart of the fight against COVID-19 and
we are committed to playing our part in the local areas in which we
operate. Johnson Matthey has:
-- Started manufacturing goggles and visors across a number of our sites
which are being offered to community medical staff and care organisations;
-- Donated PPE equipment to medical and care organisations; and
-- Pledged to match all donations made by our employees to fund local
projects supporting communities though COVID-19.
We know that science will help provide the solution in winning the
fight against COVID-19 long term, as well as many other major health
and climate related challenges that we will face over the years to
come. However, the impact of COVID-19 is likely to further increase
the barriers to studying science for children and young people. To
tackle this challenge, we are committing GBP1 million as a special
fund to be donated to local and regional programmes in the areas in
which we operate, to improve access to a quality science education
to enable a cleaner and healthier world.
Our shareholders
We continue to drive long term sustainable value creation for our shareholders
through:
-- Taking actions to maintain a strong financial position and tightly
manage our cash flow and costs as we navigate the short term impact
of COVID-19; and
-- Continue to execute our strategic plans that drive operational efficiencies
across our business, while at the same time maintaining key long
term investments for future growth;
-- We will give more detail on the actions we are taking in our full
year results announcement planned for 28(th) May 2020.
Management actions
In recognition of the circumstances affecting many of JM's employees,
customers, suppliers and communities, the Chair, Patrick Thomas, Chief
Executive, Robert MacLeod, Chief Financial Officer, Anna Manz and our
Non-Executive Directors have chosen to make a donation equal to 20%
of their salaries and fees for at least the first quarter of 2020/21
to provide support to the company's special fund for science education.
Robert MacLeod, Chief Executive said: "Everything we do at JM is aligned
to using our science to make a positive contribution to a cleaner,
healthier world, today and for future generations. This is particularly
relevant in the context of COVID-19 and I am pleased we can support
our people, customers, suppliers, shareholders and communities at the
heart of our organisation.
I am particularly grateful to all our colleagues who have shown dedication
to our business and our customers in the face of COVID-19, be it our
frontline employees who continue to come to work at our sites around
the world, or staff who have adjusted so resourcefully to the challenges
of working at home.
Every day we are putting our inspiring science to work to enhance lives,
creating the vital products and services for our customers that help
to support the healthcare sector and keep our economy going. Our commitment
to helping our stakeholders goes beyond business and we are determined
to help in every way we can."
Ends
Enquiries:
Media Director of Corporate Relations 020 7269 8407
Sally Jones Tulchan Communications 020 7353 4200
Simon Pilkington
Investor Relations 020 7269 8241
Martin Dunwoodie Director of Investor Relations 020 7269 8235
Louise Curran Senior Investor Relations Manager 020 7269 8242
Jane Crosby Investor Relations Manager
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
STRSEEFMFESSEIL
(END) Dow Jones Newswires
April 22, 2020 02:00 ET (06:00 GMT)
Johnson Matthey (LSE:JMAT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Johnson Matthey (LSE:JMAT)
Historical Stock Chart
From Sep 2023 to Sep 2024