SLS International (OTCBB: SITI), the developer of ultra high-fidelity speaker systems and related electronics for commercial and consumer applications, announced today the Grand Opening of its new 150,000 square foot manufacturing facility located in Ozark, Missouri, a suburb of Springfield. The new Facility has the capability to produce over $200 million of audio products, plus has the infrastructure to support and partially warehouse product in excess of $1 billion in annual revenue. Based upon its state-of-the-art design, the Facility is expected to significantly enhance the Company's efficiency, improving its operating margins. The location will also serve as the Company's new corporate headquarters.
"Today is an exciting day for SLS International," said John Gott, SLS International's Chief Executive Officer. "This new facility represents a dramatic improvement from our previous location, and will allow us to support the rapidly growing demand for our products. The Facility is more than four times the size of our former one, and will serve as a showcase location as we seek to add new relationships with national retailers. With our aggressive marketing campaign delivering results, SLS International now has the infrastructure in place to support this growth. Today, SLS has all of the resources necessary to become a leading provider of cutting-edge audio products."
The facility, located on approximately 11 acres, was built in 1984. SLS purchased the Facility earlier this year for $3.5 million. The Company expects that the cost savings achieved by producing more of its cabinets at the Facility will pay for the building over a period of a few years. The Facility is currently equipped with machinery and equipment for production lines, engineering, painting and exhaust. There are over 16,000 square feet of modern office space and complete up to date employee facilities.
Matters discussed in this press release contain forward-looking Statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.
Source: SLS International, Inc.