Helios Technologies has issued a preliminary report in the aftermath of Hurricane Milton, detailing the storm’s immediate impact on the company’s operations.
- The company’s headquarters in Sarasota, Florida, faced direct damage from the hurricane, affecting key segments of its Hydraulics sector.
- Efforts are underway to assess damage and restore operations swiftly, with a focus on employee and community safety.
- Helios is engaging with insurance partners to mitigate the financial losses experienced due to the storm.
- Further updates on the financial and operational impact will be provided as assessments are completed.
In the wake of Hurricane Milton, Helios Technologies has come forward with an initial assessment of the storm’s effects on their operations. Our immediate concern is for the safety and well-being of our colleagues, their families, and the residents of the communities throughout the region affected by this devastating storm, stated Sean Bagan, Interim President and CEO of Helios. This statement underscores the company’s commitment to prioritising people over profits in this challenging time.
The hurricane made landfall directly in Sarasota, Florida, where Helios Technologies has its global headquarters. This locale is particularly significant as it also houses Sun Hydraulics, a crucial component of Helios’ Hydraulics segment. The severe weather has resulted in extensive damage, impacting both the facilities and the continuity of manufacturing operations. Helios is currently in the process of assessing the full extent of this damage and is taking steps to determine the physical and operational impacts on its business.
In response to the physical setbacks, Helios has actively engaged with its insurance partners. Such collaboration aims to cushion the financial blow that accompanies the physical damages incurred. These actions illustrate a proactive approach to safeguarding the company’s financial health amidst natural adversities.
Helios is dedicated to minimising downtime and is working diligently to bring affected facilities back online. Their objective remains to resume operations at the earliest possible time frame without compromising the safety of their personnel and the community.
As the situation evolves, Helios acknowledges the necessity of transparent communication with stakeholders. The company plans to release further updates concerning the impact on its financial results and operations, providing clarity and reassurance to its investors and partners.
Helios Technologies remains focused on recovery and safety following Hurricane Milton, with more updates to follow after thorough assessments.
