Under Armour (NYSE:UA) has joined an everwidening collective effort by big companies to assist with the SARS-CoV-2 coronavirus pandemic. The athletic apparel company said in a statement disseminated to media outlets on Monday that it will make personal protective equipment (PPE) for healthcare workers coping with the coronavirus and the COVID-19 disease that results from it.
Under Armour will manufacture over 500,000 face masks, 1,000 face shields, and thousands of hospital gowns at its facilities in Baltimore. It will then ship this equipment to several medial facilities throughout Maryland, including the University of Maryland Medical System (UMMS). Under Armour is headquartered in Baltimore.
"These supplies will allow UMMS to distribute critical personal protective equipment to clinicians, and masks to staff and visitors," a rep for Under Armour said.
Under Armour is expected to provide more details of this program on Tuesday.
Like other companies, Under Armour is taking major steps to cope with the coronavirus outbreak and the economic havoc it is wreaking. It recently extended the closure of all its stores through this Saturday, April 4, and has enacted a work-from-home regimen for its employees. In the charity sphere, earlier this month it announced a $1 million donation to hunger relief organization Feeding America.
On Tuesday, shares of Under Armour rose by slightly over 1%. That was lower than the gains recorded by numerous top stocks, plus the major stock market indexes.