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Auto and Aerospace Continue to Slow

To all Kymera International Employees,

It has become clear that countries outside the U.S. have had more success in dealing with the Coronavirus. As pressure mounts to reopen the U.S. economy, including getting kids back to school, governors in many U.S. states have mandated wearing face masks to try to minimize the spread of this pandemic. The President has come out publicly supporting mask wearing and the hope is that all U.S. states will take that as an endorsement to mandate this practice. The fact that this virus does not spread as quickly in warm weather is concerning because as cooler temperatures begin in the coming months, the number of COVID-19 cases could increase at alarming rates.

The good news is that globally we are investing in many trials and production of potential vaccines, with the most recent one being between the U.S. and Pfizer and BioNtech on a $1.95 billion deal to distribute their potential vaccine. But a vaccine will take time and in a best-case scenario we will have a vaccine by early 2021, meaning that unless we continue to be diligent regarding mask wearing, hygiene, social distancing and surface disinfecting, the number of reported cases and deaths are going to continue to rise.

At Kymera, we will continue following local and federal guidelines, but if mask wearing is not mandated in your municipality, I do encourage you to wear them, especially when social distancing is not possible.

We had hoped that by the end of June that we would see a turnaround in our business. While most companies in our group have seen some improvement, the auto and aerospace sectors continue to be slow. The auto market has shown signs of improvement, but it will take a few months until we see real improvements and of course this assumes no further pandemic setbacks. Aerospace has also indicated that markets are improving, but this will take even longer to have an effect on our business due to the long supply chain and inventory build-up prior to the pandemic. As such we do not expect aerospace to see meaningful improvements before 2021.

We are managing production by using PTO and furloughing when necessary and doing our best to help mitigate some of the financial burden employees are feeling. Expect a lot of ups and downs in the coming months but rest assured we are all working hard to ensure that when we emerge from this historic economic turmoil that we will be an even stronger company.

Please remember to be safe and stay healthy

Barton White – CEO
Kymera International®

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