Recreational vehicle component manufacturer Patrick Industries Inc. (Nasdaq: PATK) in Elkhart says it will suspend operations at some of its plants in response to the COVID-19 pandemic.
Chief Executive Officer Andy Nemeth says the decision is being made to balance production levels with customer demand and to prioritize the well-being of employees.
“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.”
Nemeth adds that the Elkhart-based company feels they are well-positioned with a flexible business model in place to allow them to adjust production levels as the market dictates. The company did not detail which, or how many, plants will have their operations suspended.