COVID-19  March 20, 2020

Maxar sends delay notices to customers as California shuts down to slow Coronavirus spread

Editor’s note: As a public service, BizWest is making all of its coverage of the COVID-19 virus free to read. Please consider subscribing to BizWest to support our efforts to keep you informed on Northern Colorado and the Boulder Valley’s top business news.

WESTMINSTER — Just days after it told investors it wasn’t yet affected by the spread of the COVID-19 virus, satellite maker Maxar Technologies Inc. (NYSE/TSX: MAXR) said it would claim “force majeure” to delay certain contract fulfillments.

Westminster-based Maxar said its plants in Palo Alto and San Jose were closed this week in response to stay-home orders from local health officials, but the company now believes it is exempt due to the nature of the work and restarted assembly with limited staff Friday.

SPONSORED CONTENT

Ways to thank a caregiver

If you have a caregiver or know someone who has been serving as a primary caregiver, March 3rd is the day to reach out and show them how much they are valued!

Those public health orders, along with “observing stress” within the company’s larger supply chain, is forcing Maxar to tell customers it would be late on delivering on contracts, according to a disclosure filed to the U.S. Securities and Exchange Commission.

The company said last Wednesday it had yet to see any major impacts to its supply chain or revenue streams due to the novel coronavirus spread.

The company said none of its staff have been diagnosed with the COVID-19 virus as of Friday morning, but all employees are now working from home except for workers in critical assembly positions.

Maxar is now assessing the wider effects of the global COVID-19 outbreak on its entire business and supply chain, “all of which to some extent will affect future revenue, earnings, and cash flow,” it said.

 

© 2020 BizWest Media LLC

 

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
Sign up for BizWest Daily Alerts