Coronavirus: Operational Status Update

May 1, 2020

Precipart’s number one priority is the safety and well-being of our people, families, clients, partner companies, and the communities in which we live and work. As the impact of the novel coronavirus (COVID-19) continues to evolve, we would like to update you on Precipart’s current operational status.

Local and national mandates are changing quickly. We are monitoring the situation closely across all of our global locations and in close cooperation with our international supply partners.

As a supplier of parts for medical equipment, aerospace and defense solutions, Precipart has been deemed essential and exempt from New York State Executive Order 202.6. This exemption allows for Precipart to continue production and support of critical gears and components. We do this of course while taking full measures to protect the health and wellbeing of our team members. We are following recommendations from the World Health Organization (WHO), Centers for Disease Control (CDC) and local authorities in the localities in which we operate.

We have implemented a business continuity plan in order to mitigate the risks of a production stoppage or delay due to personnel availability. As of today, Precipart continues manufacturing and our global supply chain remains active and stable, with minimal disruption to delivery of product. The situation can change rapidly, so where possible, we are proactively securing additional inventory to buffer against delivery disturbances. We are also taking proactive steps to address potential disruptions to global logistics. Our Long-Term Agreements and multiple sources of supply for raw material continue to mitigate risk to production.

Our India-based operations are currently complying with the Indian Government mandate and we have implemented a digital remote work policy for all global, non-production team members. Whether in the office, or working remotely, Precipart’s Account Managers and Customer Service team members are available to support you in reviewing and adjusting inventory or to answer any questions you may have. They will be your first line of communication if there are any changes to the status of your needs.

Transparency and communication during times like these are of utmost importance. We will continue to update you on Precipart’s operational status as the situation evolves.

We hope that you, your fellow team members and your families are well and remain that way.

Sincerely,

Precipart

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