CEO: Kimball Prepared for COVID Uncertainty
Kimball says the deal adds an "attractive product portfolio" to its residential market offerings.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowJasper-based Kimball International Inc. (NYSE: KBAL) says its manufacturing facilities remain operational during the pandemic and that it is following government guidelines to ensure the safety of its employees.
The company, which manufactures furniture for a variety of markets including healthcare, has operations in six states. Kimball says it is prepared to comply with state regulations which could result in stopped production if mandated by the health officials.
“As we face this time of unprecedented challenges, we have taken swift action to proactively safeguard and support our people, activate business continuity plans to minimize impact to our customers and continue the rigorous financial management of our business,” said Kimball Chief Executive Officer Kristie Juster.
The company says it has stopped production at a manufacturing facility in Pennsylvania which was already in the process of shutting down before the pandemic.
Juster says the company’s balance sheet is strong and it’s prepared to navigate through the uncertain economic times. However, Juster says “we anticipate delays in project execution and potential order cancellations resulting in a reduction in overall volumes in the future.”