Mayville Engineering Firm, Inc. Pronounces New Strategic Buyer Relationship
MAYVILLE, Wisconsin – (BUSINESS WIRE) – Mayville Engineering Firm (NYSE: MEC) (the “Firm” or “MEC”), a number one United States-based value-added manufacturing accomplice that gives a variety of prototyping and tooling, manufacturing manufacturing, coating, meeting and aftermarket companies, in the present day introduced it has entered right into a long-term settlement with a number one US firm within the health subject.
“We’re proud to work with one of many health world’s most progressive pioneers, ”mentioned Robert D. Kamphuis, President, President and CEO. “It’s gratifying that MEC’s distinctive technical capabilities and unmatched reliability are acknowledged with this settlement.
The corporate has signed a long-term settlement to provide main key parts for health tools. Based mostly on present plans and projections, the brand new shopper is anticipated to turn out to be one of many prime 10 purchasers when it comes to income in 2022. In 2021, the corporate plans to take a position between $ 35 million and $ 45 million, primarily centered on automation and know-how whereas qualifying processes, testing and commenced ramping up manufacturing in early 2022. Different monetary phrases of the deal weren’t disclosed.
This press launch contains forward-looking statements which mirror plans, estimates and beliefs. Such statements contain dangers and uncertainties. Precise outcomes might differ materially from these contemplated in these forward-looking statements as a result of numerous elements. Necessary elements that might trigger precise outcomes or occasions to vary materially from these expressed in forward-looking statements embody, however should not restricted to: the adverse impacts of the coronavirus (COVID-19) have had and can proceed to have on our enterprise, monetary situation, money flows, outcomes of operations and provide chain (together with future unsure implications); the shortcoming to compete efficiently in our markets; dangers related to modifications within the sectors through which our purchasers function; our capacity to keep up our manufacturing, engineering and know-how know-how; the lack of considered one of our main clients or the lack of their respective market shares; dangers related to exact manufacturing planning and optimization of effectivity; our capacity to attain internet gross sales represented by our award-winning enterprise; our capacity to efficiently determine or combine acquisitions; dangers related to getting into new markets; our capacity to develop new and progressive processes and to achieve buyer acceptance of such processes; our capacity to recruit and retain our key executives, managers and specialist personnel; dangers related to our data know-how methods and infrastructure; manufacturing dangers, together with delays and technical points, points with third social gathering suppliers, environmental dangers, and relevant authorized and regulatory necessities; political and financial developments, together with international commerce relations and related tariffs; worth volatility or the supply of uncooked supplies important to our enterprise; the outcomes of authorized disputes, together with product legal responsibility, mental property infringement and different claims; the dangers related to our capital intensive trade; the dangers related to our therapy as an S Company previous to the completion of our preliminary public providing; dangers related to treating our worker share possession plan as a tax-eligible pension plan; and different elements described within the “Danger Components” part of Half I, level 1A of our annual report on Kind 10-Ok for the yr ended December 31, 2020, as such, could also be amended or supplemented by subsequent quarterly stories on Kind 10-Q or different stories filed with the Securities and Change Fee. This dialogue ought to be learn along side our audited consolidated monetary statements included within the Firm’s Annual Report on Kind 10-Ok beforehand filed for the fiscal yr ended December 31, 2020. We assume no obligation to replace or replace revise forward-looking statements after the date on which such assertion is made, whether or not because of new data, future occasions or in any other case, besides as required by federal securities legal guidelines.
About Mayville Engineering Firm
Based in 1945, MEC is a number one United States-based value-added manufacturing accomplice that provides a variety of parts for prototyping and tooling, manufacturing, manufacturing, coating, meeting and components. spare. Our clients function in a wide range of finish markets, together with heavy and medium utility autos, building and entry tools, powersports, agriculture, navy and different finish markets. Along with course of engineering and growth companies, MEC maintains an intensive manufacturing infrastructure with 19 services throughout seven states. These services permit us to supply typical stamping, shearing, fiber laser slicing, forming, drilling, tapping, grinding, tube bending, machining, welding, meeting and logistics companies. and CNC (laptop numerical management). MEC additionally has a variety of ending capabilities together with shot blasting, digital coating, powder coating, moist spraying, and navy grade Chemical Agent Resistant Coating (CARC) paint.