AMMO, Inc. Announces Sept. 22 Ribbon Cutting Ceremony for the Opening of State-of-the-Art Ammunition Manufacturing Plant in Manitowoc, WI
AMMO, Inc. (Nasdaq: POWW, POWWP) announces a ribbon-cutting ceremony for its new 185,000-square-foot production facility in Manitowoc, Wisconsin, scheduled for September 22, 2022. The event will feature local officials and AMMO's senior management team. This facility aims to enhance production capacity to meet increasing demand for ammunition, with future plans to hire an additional 100 employees. CEO Fred Wagenhals highlighted the plant's role in improving efficiency and supporting a projected increase in ammunition production to one billion rounds.
- Opening a new 185,000-square-foot production facility to boost capacity.
- Projected increase in ammunition production to one billion rounds.
- Plans to hire an additional 100 employees, enhancing local employment.
- None.
SCOTTSDALE, Ariz., Sept. 01, 2022 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”) the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, will host a ribbon cutting ceremony at its new state-of-the-art production facility located at 6311 West Custer Street in Manitowoc, Wisconsin at 12:00 p.m. CDT on September 22nd. The ceremony is open to the public.
Manitowoc Mayor Justin Nickels and other state and local officials will be on site at the event along with AMMO’s Chairman & CEO, Fred Wagenhals, his senior management team, AMMO Board members, including Rusty Wallace and Richard Childress, who are also members of the NASCAR Hall of Fame.
The new facility is 185,000 square feet in size and incorporates state-of-the-art capabilities, enabling AMMO to significantly expand production capacity to meet the rapidly growing demand for its unique products. The Company currently employs over 300 people in Manitowoc and is currently projecting to add another 100 team members over the next year.
“We are pleased to bring on-line and on time our world-class manufacturing Plant, representing the art of the possible in ammunition and munition components manufacturing. This crown jewel and best-in-class plant will allow our growing Manitowoc team members to work in a technologically advanced and comfortable environment that more than triples our current manufacturing footprint, deploying cutting-edge on-site R&D, ballistics, and range facilities,” said Fred Wagenhals, AMMO’s Chairman & CEO. Wagenhals stated that “our new plant was strategically designed to support profound increases in leverage, efficiencies, and cost-controls across our entire product portfolio, all coming together to support an incremental increase in loaded ammunition production projected to take us to a billion rounds of production in due course. I couldn’t be prouder of the entire AMMO team responsible for bringing this project across the goal line. We look forward to celebrating this momentous occasion with the AMMO family, Manitowoc Mayor Nickels, his staff, the City Council and all our supporters within the community.”
About AMMO, Inc.
With its corporate offices headquartered in Scottsdale, Arizona, 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 specialty rounds for military and law enforcement use via government programs. For more information, please visit: www.ammoinc.com.
About GunBroker.com
GunBroker.com is the largest online marketplace dedicated to firearms, hunting, shooting and related products. Aside from merchandise bearing its logo, GunBroker.com currently sells none of the items listed on its website. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents. Launched in 1999, GunBroker.com is an informative, secure, and safe way to buy and sell firearms, ammunition, air guns, archery equipment, knives and swords, firearms accessories, and hunting/shooting gear online. GunBroker.com promotes responsible ownership of guns and firearms. For more information, please visit: www.gunbroker.com.
Forward Looking Statements
This 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:
Matt Blazei
Phone: (516) 386-0430
IR@ammo-inc.com
Media. Contact:
Victoria Welch
AMMO, Inc.
Phone: (480) 947-0001
vwelch@ammoinc.com
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