This is being done in the best interest of the safety and health of our employees as well as to better balance production levels with some projected near-term global market weakness. Largely due to our current inventory position, our view of in-transit stock and good planning with our suppliers, we remain confident in our ability to meet market needs and continue our distribution capabilities during this period.
'The outbreak and rapid proliferation of the coronavirus has disrupted the global marine market and our business. The prudent and necessary response to the spread and threat of the virus by national, state and local authorities across the globe has included measures that we believe will influence near-term marine demand and consumer access, said
In response to the coronavirus, Brunswick earlier enacted a broad range of actions that included a work from home program and additional measures to ensure the safety and security of its employees. In addition, the Company recently introduced wage continuation programs to assist employees affected by a coronavirus-related business interruption.
The schedule changes will begin to take effect on
'We plan to continue monitoring the situation and taking the necessary actions in the best interest of our employees, customers, investors, communities where we operate and all our stakeholders,' concluded Foulkes.
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Forward-Looking Statements
Certain statements in this news release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick's business and by their nature address matters that are, to different degrees, uncertain. Words such as 'may,' 'could,' 'expect,' 'intend,' 'target,' 'plan,' 'seek,' 'estimate,' 'believe,' 'predict,' 'outlook,' and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this news release. These risks include, but are not limited to: the coronavirus (COVID-19) pandemic, including, without limitation, the impact on global economic conditions and on capital and financial markets, changes in consumer behavior and demand, the potential unavailability of personnel or key facilities, modifications to the Company's operations, and the potential implementation of regulatory actions; the effect of adverse general economic conditions, including the amount of disposable income consumers have available for discretionary spending, tight consumer credit markets, and the level of consumer confidence on the demand for our products and services; our ability to successfully implement our strategic plan and growth initiatives; our ability to integrate targeted acquisitions, including the Global Marine & Mobile Business of Power Products; the risk that unexpected costs will be incurred in connection with these transactions; the possibility that the expected synergies and value creation from these transactions will not be realized or will not be realized within the expected time period; having to record an impairment to the value of goodwill and other assets; changes to
Additional risk factors are included in the Company's Annual Report on Form 10-K for 2019. Forward-looking statements speak only as of the date on which they are made, and Brunswick does not undertake any obligation to update them to reflect events or circumstances after the date of this news release or for changes by wire services or Internet service providers.
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