Chintan Sutaria, Founder & President, CalcuQuote

While the COVID -19 virus has caused short-term volatility, we see stability in the long-term. The ITW business model has put us in a strong position to ride out the pandemic and win the recovery. We have navigated the pandemic with limited disruption in production and product innovation. Customer orders and shipments remain strong.

We have many of our administrative staff working from home, and on the production side we have multiple social distancing and hygiene processes in place. Participation in non-essential activities such as trade shows and travel are being deferred, however, we have pivoted to online training, customer support, and virtual demos.

The pandemic's economic toll has been uneven with automotive, industrial and mobile phone verticals hit hard. Communications infrastructure (5G), work-from-home electronics, medical, and semiconductor fared better. We expect continued headwinds from the pandemic and other conditions in 2021 but will drive the recovery by providing added value and new innovations.

We are working with several market leading customers on advancements that will help them realize the vision they have for higher yields, better performance and Industry 4.0 automation. The developments we are working on will bring differentiated value to all our customers well into the future.