Espey Mfg. & Electronics Corp.
Climate Impact & Sustainability Data (2018)
Reporting Period: 2018
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- High concentration level with two domestic customers (60% of total sales in 2018, 45% in 2017), presenting significant risk of loss of customers or programs.
- Shortages of certain electronic components due to industry-wide growth and volatility, impacting ability to meet customer schedule demands.
- Potential negative impact on future earnings from tariffs on steel and aluminum imports.
- Cybersecurity threats and unauthorized attempts to gain access to sensitive information.
- Technical and scheduling delays in major development programs (though resolved as they arose).
Mitigation Strategies
- Pursuing opportunities with current and new customers to lower sales concentration and mitigate reliance on single major products or customers.
- Working with customers to mitigate the impact of component shortages.
- Monitoring the impact of tariffs and foreign trade policies.
- Implementing threat detection and mitigation processes and procedures, including employee training.
- Resolving technical and scheduling delays as they arise.