In the discovery phase of the Year 2000 effort, potentially affected items at all 180 locations were identified. There are four information technology system replacement projects under way, in individual foreign countries, which will result in Year 2000 compliance for all remaining items that are considered significant. Three of the replacements are scheduled for completion in June through August 1999.The fourth system replacement, which in one country supports half of our business activity, is scheduled for completion in October 1999. Although this project supports only a portion of our business in a single country, with minimal business risk, contingency plans are being developed for this system and will be enacted if required. The Company has material third-party relationships with suppliers of raw materials, and with customers and utility providers.
Raw materials are readily available and most can be supplied by a number of alternate vendors.
We purchase raw materials externally and generally have strong relationships with our vendors, for whom we are a significant source of revenue. For large or important vendors, we have asked for confirmation of their compliance and verification that their program also extends to the compliance of their suppliers. Where initial responses were questionable, we have engaged in dialogue and followed up with on-site visits where appropriate. For those very few who remain questionable, we continue to monitor them closely. If not confident of their compliance, we will invoke contingency plans as and when necessary.