Mile Marker International, Inc. Announces China Factory Expansion
POMPANO BEACH, Fla.--Mile Marker International, Inc. (OTCBB:MMRK), a specialty vehicle parts supplier, today announced a significant expansion of its overseas manufacturing facilities in ShenZhen, The Peoples Republic of China.
Mile Marker International, Inc. today announced that its wholly-owned subsidiary in China, Mile Marker Automotive Electronics (ShenZhen), Ltd., is expanding the size of its manufacturing facilities from its original 14,207 square foot factory to a total of 65,961 square feet of rented space, including a 7,281 square foot dormitory for 144 additional employees.
Richard Aho, President and CEO of Mile Marker International, Inc., said: “We are increasing our manufacturing capacity in China dramatically. We have just leased 44,473 square feet of additional manufacturing space nearby in the same complex. After spending approximately 20,000 hours on research and development on an extremely cost-effective basis and creating 27 new patents, we now expect to be in full production with our new winch line by April 15 in our own facilities in China. We will be producing 10 new state of the art winch models with the only variable speed controlled system in the world. We expect these winches to set the new standard for the industry as the safest, most reliable winches ever produced in their class."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other risks factors and uncertainties detailed in the Company's filings with the U.S. Securities and Exchange Commission.