KLA Foundation Pledges $550,000 to COVID-19 Relief in India

Rhea-AI Summary

KLA Corporation (NASDAQ: KLAC) announced a donation of $550,000 to support COVID-19 relief efforts in India amid a severe healthcare crisis and vaccine shortages. The funds will aid in purchasing critical medical supplies, such as ICU beds and oxygen concentrators, as well as long-term investments to enhance ICU capacity in underserved areas. This contribution expands upon the KLA Foundation's earlier $2 million commitment to global pandemic relief. In less than a week, KLA employees also contributed over $36,000 for local relief, which will be matched by the company.

Positive

• Donation of $550,000 for urgent COVID-19 relief in India enhances KLA's corporate social responsibility.
• Employee contributions of over $36,000 demonstrate commitment and unity among KLA employees.
• Expansion of services and support for KLA employees' health during the pandemic.

Negative

• None.

MILPITAS, Calif., May 6, 2021 /PRNewswire/ -- KLA Corporation (NASDAQ: KLAC) today announced the KLA Foundation is expanding its COVID-19 relief efforts in India with a donation of $550,000 to help combat the second wave of coronavirus infections currently taxing the country's healthcare system amidst a national vaccine shortage. A portion of the funds will be used for emergency relief to purchase ICU beds, oxygen concentrations, syringe infusion pumps and other emergency medical devices currently facing shortages. The remaining funds will be used for long term community investment to build additional ICU capacity and address needs of the under privileged communities in hospitals around KLA India.  The Foundation has also established a new India COVID Relief Fund campaign on its internal Global Giving Platform through which in less than a week, KLA employees have already made personal donations of more than $36,000 that will be matched by the company.

"For over 20 years, the KLA Foundation has remained committed to aiding the communities in which our employees work and live," said KLA president and CEO, Rick Wallace. "This financial relief will secure critically-needed supplies to treat those affected by the pandemic in and around the city of Chennai where KLA India is based, as well as provide longer term intensive care facilities to be used after the current crisis. We thank and lend our support to the incredible people fighting the pandemic in India and around the world."

The COVID-19 India relief fund is an expansion of KLA's previous $2 million contribution towards global pandemic relief efforts. Focused on nonprofit organizations in regions with the highest number of individuals affected by COVID-19, as well as locations with high-risk populations, the KLA Foundation has provided resources and funding over the past year to food banks, senior living communities, public hospitals and schools.

Dominic David, President of Operations, KLA India added: "KLA is already taking action to ensure the safety and wellbeing of our employees and their families with additional employee health benefits, including telemedicine support by doctors and nurses, providing vaccination support, and organizing an isolation care facilities. This donation by the KLA Foundation and fellow colleagues is helping to mobilize rapid response efforts here in Chennai and the broader community. We thank our KLA colleagues around the world for their assistance and contributions."

The KLA Foundation supports a range of charitable initiatives with funding and volunteer opportunities that are strategically aligned with three main pillars of focus: education (with an emphasis on STEM), health and wellness, and community enrichment⁠ — and support Diversity, Equity and Inclusion (DEI) across all programs.

With a goal of improving lives where KLA employees work and live through grants, employee matching gifts and volunteerism, the Foundation strives to make a positive and lasting difference in people's lives and encourage others to take action. For more information, visit www.kla.foundation.

About KLA:
KLA develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards and flat panel displays. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Additional information may be found at www.kla.com.

 

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SOURCE KLA Corporation

FAQ

What is the recent donation by KLA Corporation for COVID-19 relief in India?

KLA Corporation announced a donation of $550,000 to aid COVID-19 relief efforts in India.

How is KLA helping with the COVID-19 crisis in India?

KLA is providing funds for essential medical supplies and has established long-term ICU capacity investments.

What previous contributions has KLA made for pandemic relief?

Prior to this donation, KLA Foundation committed $2 million toward global COVID-19 relief efforts.

How much did KLA employees contribute to the relief efforts?

KLA employees contributed over $36,000, which will be matched by the company.

Who is the president of KLA Corporation?

Rick Wallace is the president and CEO of KLA Corporation.