Published: 2020-03-19 15:32:03 CET
SAF Tehnika
Other information disclosed according to the rules of the Exchange

Announcement about SAF Tehnika business operations during the COVID-19 pandemic

This is an official statement on how SAF Tehnika JSC doing in the COVID-19 pandemic and how it is planning to work. All SAF Tehnika facilities in (Riga, Latvia and Denver, Colorado) are functioning normally.

Riga, 2020-03-19 15:32 CET --    

 

Currently SAF Tehnika operations are running normally, and the Company is manufacturing and shipping its products world-wide. The Company has accumulated enough materials and is able to fulfill most of orders within normal lead times. This applies to all SAF product families, Microwave Backhaul Links, Spectrum Compact and Aranet.

SAF Tehnika is in constant contact with its suppliers, service providers and authorities and is monitoring the evolving situation closely, to ensure a timely response to possible changes in the current situation

During this week the Company saw normal or even a little accelerated flow of orders. SAF Tehnika is doing its best to organize operations in most resilient and reliable way. The Company is asking its partners to share information about planned orders – as always has been the case, accurate forecasting will greatly help and improve product availability.

SAF Tehnika dosn’t have any employee diagnosed with the Covid-19 yet. All employees returning from overseas trips are placed on 14 days quarantine and the company is providing full support to them. All non-manufacturing employees are encouraged to work from home and reduce their social activities to minimum. In the facilities the Company is organizing work to minimize physical proximity and ensure frequent cleaning and making disinfectants available. The Company has enough financial reserves to survive deep and long crisis and is not planning any layoffs and reductions in its capacity.

As of March 14th the government of Latvia has declared state of emergency, they are locking down borders and from March 17th all international passenger travel through ports and airports of Latvia is stopped for 1 month. Importing and exporting of goods will not be impacted. All public gatherings are banned, and citizens are encouraged to work from home. Considering relatively low number of infections the Company thinks that these measures will significantly slow down and eventually stop COVID-19 in Latvia.

SAF Tehnika will notify its investors, partners and customers immediately if there is any important events at the Group.

 

SAF Tehnika board