HAWKINS, INC. PROVIDES UPDATE ON COVID-19
MINNEAPOLIS, Minn., March 18, 2020 (GLOBE NEWSWIRE) -- Hawkins, Inc. (Nasdaq: HWKN) today announced Company readiness plans amongst the current business dynamics. Highlights include:
- Increased bleach production to meet demand
- Redundant plant capabilities to ensure business continuity in critical areas of our Water Treatment group to serve drinking water and wastewater needs of the many municipalities we support
- Increased inventory positions, where needed, to meet customer demands across all areas of the business, including agriculture, crop production and fertilizers
- Working with suppliers to ensure business continuity
- Implementation of stringent procedures and practices to minimize potential spread of COVID-19
- Providing work from home opportunities where possible, flexibility with our leave policies, and working to do whatever it takes to support our valued employees in these busy times
- Daily Management meeting to address any issues that arise
“At Hawkins, employee and customer safety is always a priority, regardless of the situation. We supply businesses with the support or supplies necessary to operate, and we impact millions of people across the United States every day, including through providing the products needed to maintain safe drinking water, and ingredients essential for large-scale food, pharmaceutical and other health product manufacturing and nutrition products needed to support our critical infrastructure,” said Patrick Hawkins, Chief Executive Officer and President.
Patrick Hawkins continued, “Our products are used in essential products every day and we will do all we can to support our stakeholders. We are confident that we can continue to serve our many customers effectively and efficiently as we embrace these ever-changing times. As we wrap up our fiscal year-end on March 29th, we continue to manage our strong balance sheet to ensure future stability by further payments to reduce our debt levels. Stay Healthy.”
About Hawkins, Inc.
Hawkins, Inc. distributes, blends and manufactures bulk and specialty chemicals and other health and nutrition products for its customers in a wide variety of industries. Headquartered in Roseville, Minnesota, and with 42 facilities in 19 states, the Company creates value for its customers through superb customer service and support, quality products and personalized applications.
Forward-Looking Statements
Various remarks in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include those relating to the impact of the acquisition and other investments on our business operations and financial condition. These statements are not historical facts, but rather are based on our current expectations, estimates and projections, and our beliefs and assumptions. Forward-looking statements may be identified by terms, including “anticipate,” “believe,” “can,” “could,” “expect,” “intend,” “may,” “predict,” “should,” or “will” or the negative of these terms or other comparable terms. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Actual results may vary materially from those contained in forward-looking statements based on a number of factors, including, but not limited to, the impact and severity of the COVID-19 outbreak, changes in demand and customer requirements or processes for our products, interruptions in production including those resulting from hazards, transportation limitations or other extraordinary events outside our control that may negatively impact our business or the supply chains in which we participate. Additional information concerning potential factors that could affect future financial results is included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2019, as updated from time to time in amendments and subsequent reports filed with the SEC. Investors should take such risks into account when making investment decisions. Shareholders and other readers are cautioned not to place undue reliance on forward-looking statements, which reflect our management’s view only as of the date hereof. We do not undertake any obligation to update any forward-looking statements.
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Contact: Jeffrey P. Oldenkamp Chief Financial Officer 612/331-6910
