Helios Technologies Provides Update on Status from Hurricane Milton
October 10 2024 - 4:01PM
Business Wire
Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the
“Company”), a global leader in highly engineered motion control and
electronic controls technology, today provided a preliminary update
on its status from Hurricane Milton.
"Our immediate concern is for the safety and well-being of our
colleagues, their families, and the residents of the communities
throughout the region affected by this devastating storm," said
Sean Bagan, Interim President, Chief Executive Officer, and Chief
Financial Officer of Helios. “Sarasota, which was directly hit by
the hurricane, is home to our worldwide corporate headquarters and
our operating company Sun Hydraulics, a material part of our
Hydraulics segment. The extent of the damage and disruption are
being assessed at our Florida facilities and we are working to
fully determine the physical impact of the storm on our
manufacturing operations. We have engaged with our insurance
partners to minimize the financial impact from any physical losses
we have sustained. Our objective is to have our affected locations
up and running again as quickly as possible.”
Once it has completed its assessment and as more information is
available, the Company plans to provide further updates and its
estimates of the effects of Hurricane Milton on its financial
results and operations.
About Helios Technologies
Helios Technologies is a global leader in highly engineered
motion control and electronic controls technology for diverse end
markets, including construction, material handling, agriculture,
energy, recreational vehicles, marine and health and wellness.
Helios sells its products to customers in over 90 countries around
the world. Its strategy for growth is to be the leading provider in
niche markets, with premier products and solutions through
innovative product development and acquisition. The Company has
paid a cash dividend to its shareholders every quarter since
becoming a public company in 1997. For more information please
visit: www.heliostechnologies.com and follow us on LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20241010345129/en/
Investor and Media contacts:
Tania Almond Vice President, Investor Relations and Corporate
Communication (941) 362-1333 tania.almond@HLIO.com
Deborah Pawlowski Kei Advisors LLC (716) 843-3908
dpawlowski@keiadvisors.com
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