Firstly, let me extend our sympathies to those who have lost loved ones or whose businesses have been hit hard during this COVID-19 pandemic. It is sure to be one of the defining events of our collective lives and I hope may galvanise us to work constructively together for the common good.
I would also like to reassure you that Redox is well prepared to persevere and keep our commitment to clients.
Amongst our clients we count power stations, drinking water plants, food manufacturers, farmers, animal feed mills, hand sanitiser manufacturers, pharmaceutical API companies and other essential industries that must have supply maintained, especially during a crisis such as this. We are confident that the governments of Australia, New Zealand, Malaysia and the United States will recognise the integral role that Redox plays in our communities. In fact we have already had several peak bodies and governments confirm this status.
Our Redox owned storage facilities are all fully staffed and running at optimum efficiency, our contract warehouses are all confirming their ability to continue to operate as per normal. Our transport partners are largely unaffected and we do not anticipate any serious delays in local delivery.
Redox has more than 800 supplier partners and I am very pleased to hear that most of them are shipping goods without interruption, although some delays are inevitable due to governments around the world placing restrictions on some activity. It seems that China has largely returned to normal this week after bearing the brunt of this horrible virus, our friends there are doing what they can to rapidly ramp up production. Prices are unstable, with some items experiencing unprecedented demand such as Vitamin C or IPA.
International shipping has seen some challenges due to the imbalance of shipping containers between Europe and China, there has also been some shortages of shipping space but we believe that this may start to moderate in the near future.
We currently have more than $100m worth of stock on hand for you, we believe this is one of the important benefits of dealing with Redox. Of course if you are concerned about stock availability you should speak to your sales representative to ensure the items you need are on hand when you need them. We have experienced a very large increase in order volume, no doubt some customers are bringing forward their requirements to offset some risk to the supply chain.
Most of all, I would like to reassure you that we are here to help, that we are here for the long haul and that you can count on Redox.
Chairman / Managing Director