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Statement from Renishaw Inc. on novel coronavirus (COVID19) with regard to U.S. operations and our supply to customers

The Coronavirus situation and its potential to disrupt supply to our customers is being constantly monitored by Renishaw. We have been a trusted, essential supplier to many industries for decades and we understand the critical nature of our products to many customers' manufacturing operations. Demonstrating our commitment to manufacturers' success, Renishaw proudly joined a U.K. consortium recently organized to supply critical ventilators to the country's national health service. Our role will be to utilize spare capacity at our machining and electronic assembly facilities to manufacture ventilator components.

We are a highly vertically integrated manufacturer and the vast majority of our manufacturing processes, including machining, electronic and mechanical assembly, are carried out in-house. Renishaw does source components from around the world, but due to our in-house stock levels and the ability to dual source most of these components, we do not currently see any impact on our ability to maintain supplies to our customers. We are taking a range of measures to protect against the spread of COVID-19 to our manufacturing sites, with tight restrictions on visits to those sites and mitigation processes for essential visitors.

Currently all U.S. based operations remain staffed, and we have substantially increased use of collaborative communication tools as an alternative to visits to and from our customers. For customers that have urgent requirements and for whom a support visit is required, we will work with them to find an effective solution.

This is a constantly evolving situation and we will continue to closely monitor all aspects of our supply chain, take mitigating actions where necessary, and update our customers should any situation arise that may impact our ability to supply them in a timely manner.