Pacific Ventures Group Adds New Machinery at Seaport Meat Company to Expand Capacity and Increase Efficiencies

Rhea-AI Summary

Pacific Ventures Group (OTC PINK:PACV) announced the acquisition of new machinery for its Seaport Meat Company to enhance production capabilities and efficiency. The installation of a Thompson Meat Grinder and a Roll Stock Machine aims to streamline operations by merging two production lines into one, thereby reducing overtime costs. CEO Shannon Masjedi expressed confidence that these upgrades will not only boost production volume but also lower operational costs, contributing to higher net income.

Positive

• Acquisition of new machinery expected to enhance production capabilities.
• Automation improvements anticipated to reduce production costs.
• CEO indicates potential for increased net income due to higher production volume.

Negative

• None.

Expects to Lead to Increased Volume and Lower Costs

LOS ANGELES, CA / ACCESSWIRE / March 5, 2021 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (the "Company"), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, is pleased to announce that it has purchased new machinery for its Seaport Meat Company operations.

The addition of a Thompson Meat Grinder and a Roll Stock Machine will expand production capability and improve production efficiencies. The added automation will increase speed by combining two smaller production lines into one larger production line and thereby reducing over time hours.

Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "We have added this new machinery to expand our production in order to meet an increase in demand. With the expected increase in production volume and decrease in production costs, we anticipate higher net income."

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC PINK:PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the website dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

Investors Contact:
ir@pacvgroup.com

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/633640/Pacific-Ventures-Group-Adds-New-Machinery-at-Seaport-Meat-Company-to-Expand-Capacity-and-Increase-Efficiencies

FAQ

What new machinery did Pacific Ventures Group purchase?

Pacific Ventures Group purchased a Thompson Meat Grinder and a Roll Stock Machine for its Seaport Meat Company.

How will the new machinery affect PACV's production?

The new machinery is expected to increase production volume and improve efficiencies by combining two production lines into one.

What is the expected financial impact of the new machinery on PACV?

The company anticipates that the new machinery will lead to a decrease in production costs and an increase in net income.

When was the announcement made regarding PACV's new machinery?

The announcement was made on March 5, 2021.

What strategic goal is PACV aiming to achieve with this new machinery?

Pacific Ventures Group aims to expand production capacity to meet an increase in demand for its products.