The stock price of Lakeland Industries, Inc. (NASDAQ:LAKE), a global manufacturer of industrial protective clothing surged after health officials confirmed that the first Ebola case was diagnosed in the United States.
The shares of Lakeland Industries, Inc. (NASDAQ:LAKE) are trading at $10.41 per share, up by more than 18% at the time of this writing around 1:50 P.M. in New York.
Lakeland Industries, Inc. (NASDAQ:LAKE) – Ebola cases outside Africa
Investors expected that the orders for the hazmat suits will increase following the confirmation of the first Ebola case in the U.S. Hazmat suits is used by health workers treating patients infected with the deadly disease.
Yesterday, Spain confirmed its first case of Ebola outside Africa after a nurse in Madrid was tested positive for the virus. The nurse was part of a team who treated Spanish priest Manuel Garcia Viejo, who died last September 30. The priest was infected with the Ebola virus in Sierra Leone and was brought to Madrid for treatment.
Thomas Duncan, the first person, infected with Ebola virus in the U.S. was placed in hospital quarantine. Those who had contact with him were also placed in home quarantine. Health officials are monitoring them for symptoms of Ebola virus.
On the other hand, the Spanish nurse infected with Ebola virus was isolated in an emergency treatment room in Madrid. Spain Health Minister Ana Mato said the government already implemented an emergency protocol. Authorities are working to establish the source of the contagion.
Health experts said the spread of Ebola virus in the United States and other developed countries is unlikely.
Lakeland Industries, Inc. (NASDAQ:LAKE) ready to join the fight to prevent Ebola outbreak
Christopher J. Ryan, president and CEO of Lakeland Industries, Inc. (NASDAQ:LAKE) previously stated that the company “stands ready to join the fight against the spread of Ebola.”
Last month, Lakeland Industries, Inc. (NASDAQ:LAKE) increased its manufacturing capacity in response to the increasing demand for hazmat suits used by health workers in handling patients with Ebola virus.
“We understand the difficulty of getting appropriate products through a procurement system that in times of crisis favors the availability over specification, and we hope our added capacity will help alleviate that problem,” said Ryan.
Lakeland Industries, Inc. (NASDAQ:LAKE) noted that the United States State Department alone placed a bid for 160,000 protective suits.