ELKHART, Ind., May 4, 2020 /PRNewswire/ -- Thor Industries (NYSE: THO) announced that its North American operating companies reopened their assembly operations today.
"Today is a huge day for us. While our teams are excited about getting back to work again, our primary focus is on making sure that we do so in a safe way. During the recent temporary shutdown which began in mid-March, our management teams have worked tirelessly on staying on top of the developments of the pandemic and studied best practices of companies returning to work. The result of this work was the development of Thor's Return to Work Playbook which was created with essential input from the leadership teams at our operating subsidiaries along with guidance from medical professionals and key organizations like the Centers for Disease Control. The Playbook is comprehensive and includes very detailed protocols such as requiring complete plant disinfection, specific social distancing protocols whenever feasible and personal protective equipment (PPE) when distancing is not feasible, requirements for the use of masks by all team members and a mandatory daily health screen that includes a temperature check. While we are all anxious to get back to work at our company, in our region, and across the country, it is essential that we reopen in a way that is safe for all of our team members. That is what is most important to us right now," explained Thor President and CEO Bob Martin.
"I'm proud of how Thor and its team members have responded to this pandemic. We've donated many RVs for use in various capacities by first responders, including units being used in conjunction with virus testing sites. We have also donated thousands and thousands of PPE items, including masks and face shields, to a number of hospitals and care centers in our region. Additionally, numerous team members have donated to other causes ranging from food banks to first responder organizations, as we all join the fight together. Our whole industry has responded. I've watched our competitors, suppliers and dealers step up, too. It makes me proud to see the impact we can make when we all align to take on a common foe like this virus."
Thor announced that, in limited capacities, each of its operating subsidiaries will be resuming operations in May, with the first wave of plants opening today. The attached image was taken this morning at a plant opening at Keystone RV. Pictured is Bob Martin (Thor President and CEO), Matt Zimmerman (Thor Group Manager) and Keystone team members as they arrived for work this morning. Also attached are images of a health screening area at one of Keystone RV operating plants, an example of new signage, and the personal protective equipment (PPE) kits being given to each team member.
"From the parking lot to and through our plants and offices, our teams will follow strict health and safety protocols specific to preventing the spread of the virus, including social distancing. Inside our plants, signs depicting key aspects of our protocols are everywhere. Additionally, no third-party visitors will be allowed at our offices or plants until further notice except those that are essential for the operation of our businesses. Those visitors that are deemed essential will go through a health screen, including a temperature reading before entering our facilities. Our team members are our Company and keeping them safe during this time and at all times is incredibly important to us."
"Getting back to work is important to us, to our dealers and retail customers. During this national period of social distancing over the past 6 weeks, our dealers have reported continued strong retail interest. Retail sales, while deeply impacted by State and local restrictions, surpassed our expectation in April. As we look ahead, it's undeniable that the RV lifestyle is a great way to social distance, create unforgettable family experiences, and to just get away and recharge. After we've all been cooped up inside our homes for weeks and as we continue to practice good social distancing, the best way to get outside for some enjoyment and adventure in safe way is in an RV. We look forward to a strong run for Thor and our industry as the economy fires back up. But all of that excitement can only be realized if we all do this in the right way – which is with our employees' safety at the forefront, and, at Thor, we are focused on doing just that!" Martin added.
Download link for images:
About Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined, represent the world's largest manufacturer of recreational vehicles. For more information on the Company and its products, please go to www.thorindustries.com.
This release includes certain statements that are "forward-looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made based on management's current expectations and beliefs regarding future and anticipated developments and their effects upon Thor, and inherently involve uncertainties and risks. These forward-looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors which could cause materially different results include, among others, raw material and commodity price fluctuations; raw material, commodity or chassis supply restrictions; component supply disruption related to the coronavirus outbreak; the impact of tariffs on material or other input costs; the level and magnitude of warranty claims incurred; legislative, regulatory and tax law and/or policy developments including their potential impact on our dealers and their retail customers or on our suppliers; the costs of compliance with governmental regulation; legal and compliance issues including those that may arise in conjunction with recently completed transactions; lower consumer confidence and the level of discretionary consumer spending; interest rate fluctuations; the potential impact of interest rate fluctuations on the general economy and specifically on our dealers and consumers; restrictive lending practices; management changes; the success of new and existing products, services and production facilities; consumer preferences; the ability to efficiently utilize existing production facilities; the pace of acquisitions and the successful closing, integration and financial impact thereof; the potential loss of existing customers of acquisitions; our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production; the loss or reduction of sales to key dealers; disruption of the delivery of units to dealers; increasing costs for freight and transportation; asset impairment charges; equity investment impairment charges; cost structure changes; competition; the impact of potential losses under repurchase or financed receivable agreements; the potential impact of the strength of the U.S. dollar on international demand for products priced in U.S. dollars; general economic, market and political conditions in the various countries in which our products are sold; the impact of changing emissions and other regulatory standards in the various jurisdictions in which our products are sold; and changes to our investment and capital allocation strategies or other facets of our strategic plan. Additional risks and uncertainties surrounding the acquisition of Erwin Hymer Group SE ("EHG") include risks regarding the potential benefits of the acquisition and the anticipated operating synergies, the integration of the business, the impact of exchange rate fluctuations and unknown or understated liabilities related to the acquisition and EHG's business. These and other risks and uncertainties are discussed more fully in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2019 and Part II, Item 1A of our quarterly report on Form 10-Q for the period ended January 31, 2020.
We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law.
INVESTOR RELATIONS CONTACT
SOURCE Thor Industries, Inc.