Like many other companies, this manufacturing facility took an immediate hit when the global crisis hit. A highly-technical company, they manufacture turbine components for customers across the world. Their operations are cost and labor-intensive. And with many fixed costs, they needed to preserve liquidity and cash flow in a hurry. They reached out to us to see if we could offer some relief. Their primary manufacturing location is in Mexico, and a federal mandate required full-closure for two weeks, followed by mandatory staffing of 30% for the immediate future.

This company has contracts in the aerospace industry, and its earnings outlook for 2020 is down by approximately $23 million. However, the full impact is unknown.

*These case studies are provided for informational purposes.  The names of the customers and the specific details of their business and situation have been withheld.  Qualification for Onset’s COVID-19 Relief Program is subject to review and approval by Onset and its underwriters.