Raven Industries Receives $5 Million FEMA Contract Award
15 July 2020 - 12:00AM
Business Wire
Raven Engineered Films to Deliver CRITICAL
Medical Supplies to Support COVID-19 Response
Raven Industries, Inc. (the Company;
NASDAQ:RAVN) announced today that its Engineered Films Division has
received a $4.8 million contract award from the Federal Emergency
Management Agency (FEMA) for the delivery of film-based medical
supplies.
The contract includes delivery of medical supplies to various
state and local organizations for their support with COVID-19
related matters.
“We are honored for the opportunity to leverage our innovations
and unique products in assisting with the ongoing efforts related
to COVID-19,” said Dan Rykhus, President and Chief Executive
Officer of Raven Industries. “Utilizing our technology in
reinforced materials and custom fabrication, we were
well-positioned to win this contract.”
Rykhus went on to say, “We continue to pursue and secure
contracts of this nature because of our agility and strong
commitment to solve great challenges.”
The Company expects revenue from this contract to be mostly
realized in the second and third quarters of this fiscal year. This
unexpected volume helps offset lost volume in the Geomembrane
market during the second quarter.
About Raven Industries, Inc. Raven Industries (NASDAQ: RAVN) is
dedicated to providing innovative, high-value products and
solutions that solve great challenges throughout the world. Raven
is a leader in precision agriculture, high-performance specialty
films, and lighter-than-air technologies. Since 1956, Raven has
designed, produced, and delivered exceptional solutions, earning
the company a reputation for innovation, product quality, high
performance, and unmatched service. For more information, visit
https://ravenind.com.
About Raven Engineered Films Raven Engineered Films, Inc. is a
wholly-owned subsidiary of Raven Industries, Inc. Raven Engineered
Films has established a well-known reputation for manufacturing and
supplying high performance flexible films and sheeting to major
markets throughout the United States and abroad. Raven Engineered
Films is committed to producing essential film and sheeting to
preserve and enhance customer investments while protecting Earth's
resources. The company is dedicated to developing targeted product
solutions that not only solve precise application challenges but
integrate sustainable environmental design practices for long-range
performance. Raven Engineered Films’ world-class manufacturing
operations include seven locations nationwide, complete with
state-of-the-art equipment and proven product expertise to provide
the most innovative and targeted product solutions in the industry.
Capabilities include multi-layer blown sheeting, reinforced
cast/lamination, conversion, custom fabrication, geosynthetics
design-build expertise and certified installation services through
Raven CLI Construction, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20200714005683/en/
Jared Stearns, Director of Investor Relations Raven Industries
+1 (605) 336-2750 jared.stearns@ravenind.com
Lisa McElrath, Communications Manager Raven Industries +1 (605)
336-2750 lisa.mcelrath@ravenind.com
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