13th March 2020
A COVID-19 Update to Our Central Bank Partners & Suppliers
Crane Currency would like to update you on our contingency planning for the ongoing outbreak of COVID-19 (Coronavirus), keeping you abreast of the measures that we have put in place to manage the situation. Our highest priority is the safety and security of our associates, partners, customers and the communities in which we operate.
To date, our Motion-Optics Technology, Paper Mill and Banknote Printing operations all remain unaffected and Crane Currency continues to honour all of our delivery commitments to customers around the world. We have not yet experienced any significant issues with our supply chain and our procurement of materials from our suppliers have thus far been uninterrupted.
We have taken a number of steps to minimize the possibility of future disruption to our operations and to protect our associates and partners, including:
- Conducting regular reviews with all of our Tier 1 suppliers to ensure that we have clear line of sight of all risks associated with the supply of materials sourced from impacted areas today and in the future.
- Increasing safety stocks of critical supplies, so as to ensure the availability of sufficient inventory needed to satisfy all of our commitments and to be ready to respond with confidence to the emerging and evolving needs of our customers.
- Engaging with our global logistics partners, who are adjusting to significant changes to the normal availability of sea and air freight. We advise all parties to plan as far ahead as possible and to be as flexible as practical in order to achieve planned timescales/deliveries.
- Strengthening our resilience by exercising our business continuity plans and our site-to-site redundancy plans to mitigate the impact of possible disruption to any of our production sites.
- Continually reinforcing work-place hygiene and best practice guidelines and active health monitoring.
Crane Currency’s approach is at all times described by Secure by Design™. Our aim is to anticipate and mitigate risk by taking the appropriate actions to avoid health impacts and disruption of our operations and deliveries to the fullest extent possible. Nevertheless, during this time of global pandemic, we are together dealing with a fast-evolving situation with unpredictable outcomes. Crane Currency will be vigilant in managing this issue and will continue to be transparent with our associates, partners and customers concerning any notable impacts it may have on our operations.
We thank you for your continued support and trust of Crane Currency.