Leading lubricant producer Valvoline has released an update about how it is responding to the Covid-19 outbreak.
The CEO of Valvoline, Sam Mitchell, started by saying:
“In this time of unprecedented uncertainty related to the impact of the COVID-19 virus, our top priority remains the health and safety of our employees, customers and business partners.”
The company aims to help as many of its Quick-Lube stores to remain open as it can. This may be important given that many people, including key workers, will still need preventative maintenance for their vehicles in the coming months. Customers stay seated in their vehicles while the engine lubricant and oil filter is changed at Valvoline’s stores, which already limits contact between staff and customers. Other measures have also been taken to further minimise contact, but the company says it is observing the situation and may take further action if needed. Valvoline is also supporting its franchise network of Quick-Lube stores by offering an assortment of financial support to keep franchisees afloat through the upcoming period of uncertainty.
Elsewhere in the organisation, work-at-home measures have been initiated and travel has been limited, both internationally and domestically.
Mitchell expressed his gratitude to all the employees in the company for their:
“dedication and unwavering service to our customers and communities in this rapidly evolving environment.”
Valvoline has also taken prudent measures to shore up its balance sheet, such as deferring some capital expenditure, cutting back or delaying some non-critical operating expenses, and drawing on credit facilities.