AMMO, Inc. Announces Plans to Construct a $12 Million Plant, Tripling its Manufacturing Footprint in Wisconsin
January 05 2021 - 10:30AM
AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier
American ammunition and munition components manufacturer and
technology leader, has entered into a term sheet with the City of
Manitowoc, Wisconsin to acquire in excess of 35 acres in the
Manitowoc Industrial Park (“MIP”) for the purpose of constructing
an expanded loaded ammunition and brass casing manufacturing plant.
In conjunction with its Payson, Arizona based
ammunition loading operation, the Company currently operates in
Wisconsin in an approximate 50,000 sq. ft. leased facility situated
in the MIP where its JMC brass manufacturing business,
military-grade ammunition development and supporting loading
operations reside. Following the City Council’s unanimous approval
at last evening’s meeting, AMMO will now work with Mayor Justin
Nickels and his team to prepare the definitive Development
Agreement to consummate the transaction which is founded upon seven
figures in incentives tied to substantial job growth and
development of the world-class plant. AMMO’s current plans call for
constructing a best-in-class $12 million (est.), 160,000 sq. ft.
facility on the site to be fully operational in the Summer of 2022.
AMMO’s newly minted cutting-edge facility will support the
Company’s plan to exponentially expand its manufacturing base of
operations in the heart of the US, ensuring it is best positioned
from a facilities and location perspective to serve the entire US
and its overseas customer base. AMMO anticipates opening the new
plant with approximately 150 employees, expecting to increase its
workforce over the following 18-24 months and beyond.
“This new state-of-the-art plant will strengthen
AMMO’s laser focus on designing and manufacturing premium products
for the commercial, military, law enforcement and overseas
markets,” said Fred Wagenhals, AMMO’s Chairman and CEO. Mr.
Wagenhals also noted that “Mayor Justin Nickels, his staff and the
entire Council have demonstrated a can-do approach to supporting
business and manufacturing growth in their community, providing a
platform for AMMO to be a significant employer in the area, poised
for continued growth in the months and years to come.”
“We are excited AMMO has selected Manitowoc to
expand its manufacturing operations, bringing excellent paying jobs
that will make a difference in our community.” “We look forward to
developing a strong partnership with the AMMO team – a partnership
which we believe will lead to future growth down the road and
further solidify Manitowoc as a manufacturing hub for many
different industries,” said Mayor Nickels.
About AMMO, Inc.With its
corporate offices headquartered in Scottsdale, Arizona. AMMO, Inc.
(the “Company and/or AMMO”) designs and manufactures products for a
variety of aptitudes, including law enforcement, military, sport
shooting and self-defense. The Company was founded in 2016 with a
vision to change, innovate and invigorate the complacent munitions
industry. AMMO promotes branded munitions as well as its patented
STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and armor
piercing rounds for military use. For more information please
visit: www.ammo-inc.com.
Forward Looking StatementsThis
document contains certain “forward-looking statements”. All
statements other than statements of historical fact are
“forward-looking statements” for purposes of federal and state
securities laws, including, but not limited to, any projections of
earnings, revenue or other financial items; any statements of the
plans, strategies, goals and objectives of management for future
operations; any statements concerning proposed new products and
services or developments thereof; any statements regarding future
economic conditions or performance; any statements or belief; and
any statements of assumptions underlying any of the foregoing.
Forward looking statements may include the words
“may,” “could,” “estimate,” “intend,” “continue,” “believe,”
“expect” or “anticipate” or other similar words, or the negative
thereof. These forward-looking statements present our estimates and
assumptions only as of the date of this report. Accordingly,
readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the dates on
which they are made. We do not undertake to update forward-looking
statements to reflect the impact of circumstances or events that
arise after the dates they are made. You should, however, consult
further disclosures and risk factors we include in Annual Reports
on Form 10-K, Quarterly Reports on Form 10-Q, and Reports filed on
Form 8-K.
Investor Contact:Rob Wiley, CFOAMMO, Inc.Phone:
(480) 947-0001IR@ammo-inc.com
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