The Eastern Company Provides COVID-19 Business Update - Seite 2

In times of crisis, it is more important than ever for companies to step in and contribute to the health and safety of our communities. Our Big 3 Precision subsidiary responded to the anticipated hospital bed shortages due to the pandemic and has begun the production of frames for emergency response hospital beds that can be used by healthcare facilities across the U.S. and the world. Several of our businesses are contributing safety masks to healthcare workers, including our Velvac subsidiary, which donated 7,000 safety masks to hospitals in its community.

Mr. Vlak concluded, “I am proud of our employees for working together during the crisis. The high degree of collaboration reflects our Company’s 161-year history of working together, during which we have successfully weathered many storms. By making tough and necessary decisions we believe that we are better positioned to navigate future uncertainties and disruptions caused by COVID-19 and to maintain a healthy business. In the meantime, our thoughts and sympathies are with those adversely impacted by the virus.”

About The Eastern Company

The Eastern Company is a 161 year old company which manages industrial businesses that design, manufacture and sell unique engineered solutions to niche markets, focusing on industries that offer long-term macroeconomic growth opportunities. The Company operates in three business segments -- Industrial Hardware, Security Products and Metal Products -- from 21 locations in the U.S., Canada, Mexico, U.K., Taiwan and China.

Safe Harbor for Forward-Looking Statements

Statements in this document about our future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the rules, regulations and releases of the Securities and Exchange Commission. Any statements that are not statements of historical fact, including statements containing the words "believes," "intends," "continues," "reflects," "plans," "anticipates," "expects," and similar expressions, should also be considered to be forward-looking statements. Readers should not place undue reliance on these forward-looking statements, which are based upon management's current beliefs and expectations. These forward-looking statements are subject to risks and uncertainties, and actual results might differ materially from those discussed in, or implied by, the forward-looking statements. Among the risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements include, but are not limited to changing customer preferences, lack of success of new products, loss of customers, cybersecurity breaches, changes in competition in our markets, and increased prices for raw materials resulting from tariffs on imported goods or otherwise. There are important, additional factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including those set forth in our reports and filings with the Securities and Exchange Commission. We undertake no obligation to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise.