Business
Key Tronic Corporation Announces Required Temporary Closure of Juarez Facilities Due to COVID-19
SPOKANE VALLEY, Wash., April 23, 2020 (GLOBE NEWSWIRE) -- Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today
About this update from Key Tronic Corporation
[{"type":"text","content":"SPOKANE VALLEY, Wash., April 23, 2020 (GLOBE NEWSWIRE) -- Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced the temporary closure of its Juarez, Mexico production facilities as a result of new restrictions by the Mexican government, which could potentially last until May 30, 2020 (unless further extended).\n On Tuesday, April 21, 2020, the Mexican government began closing certain manufacturing facilities in Mexico that it believes do not manufacture essential products that are sold directly to Mexican government agencies or businesses within Mexico. Although under U.S. regulations Key Tronic has been classified as an Essential Critical Infrastructure Employer (as defined by the Cybersecurity and Infrastructure Security Agency) and its Juarez facilities do manufacture essential products which are sold back into Mexico, the Mexican government’s shutdown included the Company’s Juarez facilities. Like some other companies similarly situated, the Company is petitioning the Mexican government to have its Juarez facilities reopened as soon as possible. Depending on the length of the closure of the Juarez facilities, the Company's financial results could be materially and adversely affected due to the shutdown. The Company plans to report on, among other things, this development and its potential effects, as well as its financial results for and condition at the end of the third quarter of fiscal 2020, on April 28, 2020. About Key Tronic Key Tronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. The Company provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world’s leading original equipment manufacturers. For more information about Key Tronic visit: www.keytronic.com. Some of the statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, words such as aims, anticipates, believes, could, estimates, expects, hopes, intends, plans, predicts, projects, targets, or will, similar ve...