Tags: Ebola Outbreak | Hazmat suit | maker | Lakeland | Ebola crisis

Hazmat Suit Maker Lakeland Boosts Production Amid Ebola Crisis

Thursday, 30 Oct 2014 12:05 PM

Shares of Lakeland Industries jumped nearly 30 percent Thursday after the protective suit maker estimated that the Ebola crisis has led to orders for about 1 million suits and other gear on top of that.

The company said it's on track to double its monthly production capacity for its ChemMAX and MicroMAX protective suits by January. Capacity has already increased nearly 50 percent since August. The company had said in September that it would increase manufacturing capacity for protective suits worn by health care workers and others exposed to Ebola.

Lakeland said late Thursday that the main impact from equipment orders emerging from the Ebola outbreak won't be realized until the company's fiscal fourth quarter ends in January.

But CEO Christopher J. Ryan said that the increased production has led to "a material improvement in our business."

There are no approved medications for Ebola, which has infected more than 13,000 people and killed nearly 5,000 in an outbreak sweeping through several West African countries. The virus that causes Ebola is not airborne and can only be spread through direct contact with bodily fluids of an infected person who is showing symptoms.

Shares of companies like Lakeland have been extremely volatile, and soared on reports of the virus in the U.S.

Lakeland's stock climbed $3.34 to $14.92 Thursday morning, as broader trading indexes started the day nearly flat.

Shares of Lakeland Industries Inc., based in Ronkonkoma, New York, hit $29 earlier this month before sliding back below $12, which is where they have spent most of 2014.

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Shares of Lakeland Industries jumped nearly 30 percent Thursday after the protective suit maker estimated that the Ebola crisis has led to orders for about 1 million suits and other gear on top of that.
Hazmat suit, maker, Lakeland, Ebola crisis
256
2014-05-30
Thursday, 30 Oct 2014 12:05 PM
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