Cooper Companies Reports That Puerto Rican Manufacturing Facilities Returning to Near Capacity
Wednesday, October 11, 2017 12:18 AM
PLEASANTON, Calif.—The Cooper Companies Inc.
(NYSE:COO) said Tuesday that, following a comprehensive onsite assessment of its CooperVision manufacturing facility in Juana Diaz, Puerto Rico, it was determined the facility “sustained relatively minor damage” and that operations have been restored to approximately 90 percent of previous levels.
The company also noted that it expects to “continue ramping up over the coming weeks with the support of the local power grid and generators.” The CooperVision facility was impacted by Hurricane Maria, which hit Puerto Rico in September.
Packaging and labeling operations also have been restored and product is being shipped out of Puerto Rico, the company added. “While CooperVision works to restore full operational capacity, it continues to support its employees, their families and suppliers affected by Hurricane Maria,” the announcement noted.
CooperVision said it employs approximately 1,500 people in Puerto Rico and “their safety and well-being remains our priority. Unfortunately, some of our employees suffered significant losses to their homes and property, yet despite their personal struggles the majority of employees have returned to work. We are humbled by the resiliency of our Puerto Rico colleagues and their commitment to restore our operations,” the announcement added.
Cooper has formed a Puerto Rico relief fund to directly support employees who have suffered catastrophic losses along with supporting the most critical emergency needs in the surrounding communities.