Okmetic assesses the COVID-19’s effect on the company’s wafer supply, raw material availability, personnel etc. on a daily basis as part of its Business Continuity Planning. Currently Okmetic production is running normally and there have been no major problems at other operations either despite many of Okmetic’s white-collar employees working remotely. To make the long story short, there has not been major changes to last week’s update but below you can find more detailed risk analysis regarding the most important factors related to Okmetic’s Business Continuity:
Okmetic is making several efforts to secure the health of its employees and sufficient amount of employees at all situations. Okmetic as well as the Finnish government has restricted free moving of people to minimize the spread of the virus. Clerical workers are working remotely at all Okmetic offices and enhanced cleaning of Vantaa site premises is done to prevent the spread of the virus among blue-collar workers. There are also special seating arrangements at the Okmetic personnel restaurant to minimize contact between employees and lunch is being served by the caterer instead of having a lunch buffet. Okmetic has also given health care guidance to prepare its employees for a possible infection and to ensure people stay home if feeling sick, actions of which are in an important role to prevent the spread of the virus. If the effectiveness of Okmetic seems to be compromised due to shortage of workforce, Okmetic will apply work time solutions such as overtime work and use trained hourly workers, summer workers and students and internal resources as well as start aggressive recruitment and speeded training of new employees.
Okmetic Vantaa plant’s raw materials and production articles are currently not affected by the COVID-19. The company has alternative suppliers for its raw materials and production articles and all materials in stock for months ahead. COVID-19’s direct effect on materials is thus slim and we don’t expect it to cause any interruptions to our operations.
At the moment COVID-19’s effect on equipment has been minimal and hasn’t had negative effect on our capacity. The assembly of some new equipment have been postponed and in the future also equipment supplier support could be affected.
Airlines across the world are having flight restrictions and also ports have been closed, but in general, goods are still moving. Okmetic is using forwarder partners and has been able to ship all of its processed orders without any problems. We will continue to co-operate with our forwarder partners to secure sufficient amount of freight capacity at all situations.
We are doing everything we can to minimize the risk of COVID-19 affecting our Business Continuity by following the situation and its development closely and making necessary changes and back-up plans for different scenarios. Currently the situation is good and is not affecting our production.
Chief Commercial Officer