Worksport Completes Installation of Custom Manufacturing Line, Ready for Training, Tests and Finalization of Assembly Line for Production
- Worksport completes installation of $4 million custom European manufacturing line ahead of schedule, allowing for rigorous staff training and testing of machinery. Company expected to begin production of hard-folding tonneau covers and SOLIS solar-charging tonneau covers soon. Worksport's mission includes being a positive force in the local community.
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Richmond Hill, Ontario, Canada, May 04, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (the “Company” or “Worksport”) is pleased to announce that it has completed the installation of its US
Many of the Company’s staff members expected to undergo training were hired at the Company's recent Job Fair at its 220,000 sq. ft. West Seneca, N.Y. factory and are primarily local residents. Worksport’s mission includes being a positive force -- and an employer -- in its local community. The Company will update investors when all key hires are completed.
"We are so excited to have reached yet another significant Worksport milestone, the installation of our manufacturing line," said Worksport CEO Steven Rossi. "We can clearly envision the American production of our advanced, hard-folding tonneau cover at our wholly-owned factory. Then, in due course, we expect to produce the proprietary SOLIS solar-charging tonneau cover at this same facility. That will be a great moment for the Company -- long planned and anticipated by both customers and investors, representing yet another step forward on the path to the goal of revenue growth."
When production begins, Worksport's hard-folding tonneau covers are expected to reach the market right away. The Company will also provide an update on its newly redesigned COR HD advanced hot-swap battery system, which must be tested and completed before its companion SOLIS cover can be sold. The Company will continue to inform investors as each of these milestones occur.
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP; WKSPW), through its subsidiaries, designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport Ltd. seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based technology. For more information, please visit www.worksport.com.
Connect with Worksport:
Please follow the company’s social media accounts on Twitter, Facebook, Linkedin, YouTube, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com. Worksport Ltd. strives to provide frequent updates of its operations to its community of investors, clients, and customers to maintain the highest level of visibility.
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For additional information, please contact:
Steven Obadiah
Investor Relations
Worksport Ltd.
T: 1 (888) 554 8789
E: investors@worksport.com
W: www.worksport.com
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: supply chain delays, acceptance of our products by consumers, delays in or nonacceptance by third parties to sell our products, competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and our subsequent Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
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