Dear MTNT Shareholders,
As you know, much has changed in a short time due to COVID-19. Within a day, employees went from working in the office to working from their homes; from in-person meetings like the Annual Meeting of Shareholders that we all look forward to attending, to hosting the 2020 Annual Meeting virtually online this year.
MTNT’s dynamic team has proven to be resilient and able to adapt at a moment’s notice. Literally, with less than a day’s notice in March 2020, they transformed their kitchen tables to home offices; and for some, a classroom so their children could continue their education remotely when schools closed their doors.
Now, fall is upon us and a new school year has begun. Like many other businesses and schools across the state and nation, Alaska’s largest school district, the Anchorage School District, is starting the year with online-only learning; delivering Chrome books to students, hot spots for wifi connections, school lunches and more. Our kids, our families, and our communities are resourceful and adaptive.
MTNT is not immune to the effects of COVID-19 as well. We have experienced project suspensions, delays in contract awards, conducted layoffs and more.
With each challenge, comes opportunity. MTNT continues improving operational efficiencies, enhancing our cybersecurity posture and implementing best practices while monitoring costs. As we continue to see the surge in new cases of COVID-19 today, I assure you, MTNT is more prepared than ever before to continue operations.
MTNT employees remain committed to our Shareholders and fulfilling MTNT’s mission. Despite the pandemic, MTNT continues its trajectory of success and closer to home than ever before. MTNT Construction, LLC received its first award at Joint Base Elmendorf Richardson in Anchorage, Alaska to repair damages to buildings caused by the historic November 2019 earthquake. MTNT also won a construction project in Kotzebue, Alaska. McGrath Light & Power Co. was awarded a High Energy Cost Grant to build a new Power Plant with more fuel-efficient generators with work scheduled to begin this Fall 2020 in McGrath.
We have taken a wide range of actions to minimize the risks of COVID-19 and will continue to do so by masking up with face coverings, having employees tele-work from home when necessary, restricting business travel and events, practicing social distancing, minimizing all face-to-face meetings and more.
During these times of uncertainty, we remain committed to MTNT’s mission while monitoring the epidemic. As it continues to unfold, MTNT will continue to observe the advice and directives of the U.S. Centers for Disease Control, and local and national authorities.
I thank you, our Shareholders, and the MTNT Board of Directors for your continued support. I would like to thank our employees for their dedication and commitment to MTNT. It is with their hard work, loyalty, dedication, and resiliency that we can be successful and fulfill the mission of MTNT.
I hope that you, your families and the communities where you live and work stay safe and healthy during this unprecedented time.
Chief Executive Officer