TVI Triples Facility Size in Response to Recent Business
GLENN DALE, Md.--(BUSINESS WIRE)--March 13, 2003--TVI Corporation (OTCBB:TVIN) today announced that due to the wide acceptance of its product and corresponding increase in demand, a major expansion of production facilities has occurred with the relocation of its corporate headquarters and manufacturing operations to a larger facility.
The new manufacturing plant (63,000 square feet) is more than triple the size of TVI's previous facilities.
CEO Richard Priddy stated, "Our relocation has been very timely, as our January orders have been the largest single month for orders in TVI history, totaling in excess of $2.7 million. Our new facility not only provides us the means to increase productivity, efficiency, and quality, but also provides us much greater flexibility to respond to growing customer demand. We can better service our clients by streamlining the time elapsed from point of order to product delivery."
Along with the facility expansion, TVI has added personnel in three key management positions. Mr. Victor Knox has joined TVI as VP of Marketing and Sales, and brings 15 years of sales and marketing experience from GE and other safety products companies. Mr. Michael Campbell has joined TVI as VP of Operations, with previous experience at Sears Manufacturing and Johnson Controls.
Mr. Steve Udall has also joined TVI as the Materials Manager, bringing considerable experience from Johnson Controls and Motorola.
Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as "should", "expect", "might result", and others.
These forward-looking statements involve risks and uncertainties and are not guarantees of future performance, as actual results could differ materially from our current expectations.
Such risks and uncertainties include achieving order and sales levels to fulfill revenue expectations; our ability to respond to changes in the counter-terrorism, military, public safety, and first responder communities; adverse changes in governmental regulations; expected costs or charges, certain of which may be outside the control of the Company; the time and costs involved in the marketing and promotion for our products; the possible cancellation of orders for our products; general economic and business conditions; and competitive factors in our markets and industry generally.
Numerous other factors could cause or contribute to such differences, including, but not limited to, those set forth in the Company's Annual Report to Stockholders, 10-KSB, 10-QSB, and other SEC filings. We assume no obligation to update any such forward-looking statements.
About TVI Corporation:
TVI Corporation, located in Glenn Dale, Maryland, is a leading supplier of rapid deployment shelters and signage, chemical/biological decontamination systems for the military, public health, and first response agencies. TVI additionally is a primary source to the military for thermal targets and thermal decoys. Its stock trades on the OTC Bulletin Board under the symbol "TVIN."
The TVI designation is a service mark of TVI Corporation. All other company and product names mentioned above are trade names and/or trademarks of their respective owners.
For more information concerning TVI, please visit us at: www.tvicorp.com.
CONTACT:
TVI Corporation, Glenn Dale
Richard Priddy, 301/352-8800
SOURCE: TVI Corporation
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03/13/2003 14:00 EASTERN |
