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Statement on Status of Ufa Operations

March 7, 2022 geospace

As a global company, Geospace Technologies Corporation closely watches international activities to responsibly maintain its worldwide commerce. For decades, Geospace has operated a manufacturing facility located in Ufa, the capital city of the Republic of Bashkortostan, the most populous republic in Russia. This facility historically manufactures certain geophones, cables, and domestic components for industrial non-military use, and provides other manufacturing support to augment our capabilities in Houston.

Today, we are addressing circumstances arising from the Russian invasion of Ukraine and the impact it will have on our 223 Russian employees, their families, and our on-going business operations in Ufa.

While many areas of commerce with Ufa are currently allowed to continue, there is much volatility in what could happen in the future. We are examining all the supply chain elements and steps that may be necessary to move items manufactured in Ufa to our facility in Houston. This preparation is prudent and necessary, though our preference is to continue the manufacturing operations in Ufa as much as possible. Our Russian employees are united in our concerns over actions the Russian government has taken against Ukraine, and they are anxious over what may happen to them and their families in the isolation that will follow Putin’s actions. We certainly empathize with their concern.

To date, the impact on our sales pipeline and supply chain has been limited as our Russian operation is relatively small in the context of our global business. While we understand many of the products manufactured In Ufa are not currently sanctioned, we are monitoring for changes daily. Geospace management maintains continuous communication with our Ufa management as we work to navigate this challenging time.

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