Byrna Opens New Greenfield Manufacturing Facility in Fort Wayne

Rhea-AI Summary

Byrna Technologies Inc. (NASDAQ: BYRN) has opened a new manufacturing facility in Fort Wayne, significantly increasing production capacity for its Tactical Compact Rifle (TCR). The 30,000 square-foot facility can produce up to 600,000 launchers annually, doubling the existing capacity. The TCR, designed for home defense, features rapid firing capabilities and enhanced accuracy. It will retail for $749, targeting both consumers and law enforcement. This expansion marks a pivotal step in Byrna's growth strategy, allowing for increased inventory and improved quality control.

Positive

• New manufacturing facility in Fort Wayne increases production capacity to 600,000 launchers annually.
• Byrna TCR expected to enhance market penetration with competitive pricing and features.
• Facility expansion allows for improved quality control and inventory management.

Negative

• None.

Commences Serial Production of Byrna Tactical Compact Rifle (TCR)

ANDOVER, Mass., May 5, 2022 /PRNewswire/ -- Byrna Technologies Inc. (NASDAQ: BYRN) ("Byrna", "the Company", "we" or "us") is excited to announce the opening of its new Fort Wayne manufacturing facility and the commencement of production of the Byrna TCR (Tactical Compact Rifle), the latest in a series of new products Byrna plans to introduce this year. 

New Fort Wayne Manufacturing and Fulfillment Facility

Byrna's new state-of-the-art manufacturing and fulfillment facility which commenced operations on Monday of this week, is specifically designed for the production of non-lethal weapons.  With more than 30,000 square feet, the new production plant doubles the capacity of Byrna's existing factory. The new facility, which is also far more automated than the current factory, is configured to accommodate production of up to 600,000 launchers per year at maximum utilization. "This new factory provides ample production capacity for the foreseeable future.  In addition, the extra space will allow Byrna to comfortably inventory more than 60,000 launchers worth of finished products and component piece parts and expand its quality control operations. With this new facility, Byrna has the ability to continue to grow unimpeded over the next several years," says Bryan Ganz, CEO and President of Byrna.

Byrna TCR

The Byrna TCR is the ultimate in non-lethal home defense.  The TCR is an extremely intuitive, "point and shoot" launcher, that will be easy for both professionals and novices to operate. Capable of shooting 17+ rounds at speeds in rapid succession at speeds in excess of 300 feet per second, the TCR gives homeowners significantly more stopping power than Byrna's handheld launchers. The TCR comes equipped with both a 12-round and a 7-round magazine which allows users the option to utilize either configuration. Additional features of the Byrna TCR include flip up sights for superior target acquisition, trigger enabled CO2 activation, and buttstock for stabilization. The Byrna TCR Pro Bundle will retail for $749 and be marketed to both consumer and law enforcement across all sales channels in the coming weeks, starting initially with pre-orders on www.byrna.com and select dealers. An array of TCR accessories including enhanced sighting systems will be available in the coming months.

About Byrna Technologies Inc.

Byrna is a technology company, specializing in the development, manufacture, and sale of innovative non-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company's investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a non-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company's e-commerce store.

Forward Looking Information

This news release contains "forward-looking statements" within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "expects," "intends," "will," "anticipates," and "believes" and statements that certain actions, events or results "may," "could," "would," "should," "might," "occur," or "be achieved," or "will be taken." Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements in this news release include, but are not limited, to the Company's statements related to its plans to introduce new products, production capacity at the new Fort Wayne facility, the Company's ability to continue is growth, and the timing and pricing of Byrna TCR sales. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.

Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, prolonged, new, or exacerbated disruption of our supply chain, difficulties in introducing and marketing new products, determinations by third party controlled distribution channels not to carry or reduce inventory of our products, potential cancellations of existing or future orders including as a result of any fulfillment delays, introduction of competing products, negative publicity, or other factors. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results.  Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, ("Risk Factors") in our most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in our SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

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SOURCE Byrna Technologies Inc.

FAQ

What is the significance of Byrna's new Fort Wayne facility?

Byrna's new Fort Wayne facility doubles its production capacity, allowing for increased manufacturing of the Tactical Compact Rifle.

When did Byrna Technologies announce the commencement of the TCR production?

Byrna Technologies announced the commencement of TCR production on May 5, 2022.

What is the retail price of the Byrna TCR?

The Byrna TCR is set to retail for $749.

What are the expected capabilities of the Byrna TCR?

The Byrna TCR is capable of firing 17+ rounds rapidly at speeds over 300 feet per second.

Who are the target customers for the Byrna TCR?

The Byrna TCR targets both consumers and law enforcement markets.