DIRTT Announces Temporary Suspension of Operations at Rock Hill, SC Facility: Manufacturing Capacity Shifts to Facilities in Savannah, GA and Calgary, AB
DIRTT announced the suspension of operations at its Rock Hill, South Carolina facility, citing sufficient capacity in its Savannah, Georgia and Calgary locations. This decision aligns with the company's strategy to enhance efficiency and profitability. CEO Benjamin Urban assured that production quality and timelines will remain unaffected. The company will continue to assess demand and may resume operations at Rock Hill in the future. Urban expressed gratitude to the Rock Hill team and pledged support for their transitions.
- Realignment of operations aims to drive efficiency and improve profitability.
- Production quality and timelines are expected to remain unaffected during the transition.
- Suspension of operations at Rock Hill indicates potential reduction in workforce and local economic impact.
- Uncertainty regarding future operations at the Rock Hill facility may affect investor confidence.
CALGARY, Alberta, Aug. 23, 2022 (GLOBE NEWSWIRE) -- DIRTT (or the “Company”) (Nasdaq: DRTT, TSX: DRT) announced today the suspension of operations at its manufacturing facility in Rock Hill, South Carolina. With sufficient capacity for current and expected production requirements at its facilities in Savannah, Georgia and Calgary, Alberta, the decision is part of the Company’s ongoing focus on realigning the organization, driving efficiency, and improving profitability.
“We’re committed to meeting our clients’ expectations when it comes to building a quality, agile space,” says Benjamin Urban, DIRTT’s CEO. “DIRTT’s approach to industrialized construction ensures quality and project lead times will not be impacted as we shift production to our other facilities.”
DIRTT will continue to assess its capacity requirements and will evaluate options to resume operations at the Rock Hill facility as volume demand continues to expand.
Mr. Urban also notes, “I’d like to thank the Rock Hill team for their commitment to building exceptional spaces for our clients across the United States and Canada. We’ll be supporting our Rock Hill staff with their transitions.”
Special Note Regarding Forward-Looking Statements
Certain statements contained in this news release are “forward-looking information” and “forward-looking statements” (collectively, “Forward-Looking Information”) as defined under applicable provisions of the United States Private Securities Litigation Reform Act of 1995, and Section 21E of the Exchange Act and within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact included in this news release, is Forward-Looking Information. When used in this news release, the words “anticipate,” “believe,” “expect,” “intend,” “plan,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and other similar expressions are intended to identify Forward-Looking Information, although not all Forward-Looking Information contains such identifying words. Forward-Looking Information, by its nature, is based on assumptions, and is subject to important risks and uncertainties. You should not rely on any Forward-Looking Information, which represents our beliefs, assumptions and estimates only as of the dates on which it was made, as predictions of future events. We undertake no obligation to update this Forward-Looking Information, even though circumstances may change in the future, except as required under applicable securities laws. We qualify all of our Forward-Looking Information with these cautionary statements.
About DIRTT
DIRTT is a global leader in industrialized construction. Its system of physical products and digital tools empowers organizations, together with construction and design leaders, to build high-performing, adaptable, interior environments. Operating in the workplace, healthcare, education, and public sector markets, DIRTT’s system provides total design freedom and greater certainty in cost, schedule, and outcomes. Headquartered in Calgary, Alberta, Canada, DIRTT trades on Nasdaq under the symbol “DRTT” and on the Toronto Stock Exchange under the symbol “DRT”.
For further information, please contact:
DIRTT Media Relations
DIRTT Investor Relations
FAQ
What is the reason for DIRTT's suspension of operations in Rock Hill, South Carolina?
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