Thermacell Announces Opening of New Production Facility Months Ahead of Schedule
SARASOTA, Fla., Sept. 22 /PRNewswire/ -- Thermacell Technologies, Inc. (Nasdaq: VCLL - news) announced today that its new production facility, originally scheduled in Sarasota, FL, has been changed to Daytona Beach, FL. The new Daytona facility will be completed and fully operational by October 15, 1999, months ahead of the original schedule of Jan. 2000 planned for Sarasota.
The new facility with 100,000 sq feet of available space will be able to facilitate all of Thermacell Technologies needs far into the future. The plant will house executive offices, R&D, a research library and a clean room for medical applications. Initial plant production capacity is approximately one to three million pounds of microspheres (Vaxcells) annually. However, the company is planning to order additional equipment within the next few months to expand production to approximately 10 million pounds annually, representing $10 to $15 million in additional revenues.
John Pidorenko, President and CEO said, ''Our new facility will allow us to start producing microspheres (Vaxcells) in large quantities, months ahead of schedule... and facilitate Keystone Industries requirements expeditiously. We chose Daytona Beach over Sarasota because of our recent acquisition of Seilab Research Center, in Daytona Beach, and the availability of a facility that meets all of our immediate and long term requirements, without the need of a large capital investment.''
The company plans to use a portion of the plant to produce the new all glass paint as well as develop and manufacture Essential Stone products for the fragrance and aroma therapy markets.
Forward-Looking Statement: This news release contains certain ''forward- looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995, which provides a new ''safe harbor'' for these statements. To the extent statements in this news release involve, without limitation, product development and introduction plans, the company's expectations for growth, estimates of future revenues, expenses, profit, cash flow, balance sheet items, sell-through or backlog,forecasts of demand or market trends for the company's product categories and for the industries in which the company operates, or any other guidance on future periods, these statements are forward-looking statements. The company assumes no obligation to update forward-looking statements.
SOURCE: Thermacell Technologies, Inc. |
