Advanced Drainage Systems Hosts Ceremonial Event to Mark Construction of New Harrisonville, Missouri Manufacturing Facility
October 04 2016 - 1:00PM
Business Wire
Advanced Drainage Systems, Inc. (“ADS”) (NYSE:WMS), a leading
global manufacturer of water management solutions, today hosted
community leaders, elected officials and prospective employees at
the site of its in-construction new manufacturing facility in
Harrisonville, Missouri. This will be the Company’s 62nd
manufacturing plant, and its first in Missouri.
The event featured remarks from ADS CEO Joe Chlapaty, U.S. Rep.
Vicky Hartzler (R-MO), State Senator Ed Emery (R-Lamar), and Mayor
Brian Hasek of Harrisonville.
The new 72,650 square-foot manufacturing facility is expected to
open in the first half of 2017, bringing new employment
opportunities to the region. This plant represents a significant
capital investment for ADS, whose growth is a result of favorable
policies enacted by the Missouri Department of Transportation
(MoDOT). In 2011, and again in 2014, MoDOT updated its standards
specification to allow plastic pipe to be used in statewide
infrastructure projects for storm water management. The alternative
pipe policies enable engineer choice among technically equivalent
options and reduce project costs.
“MoDOT’s policy improvements contributed significantly to ADS’
decision to invest in Missouri. We are delighted to join the
community of committed Harrisonville advocates, and welcomed the
participation in today’s event by Representative Hartzler, Senator
Emery, Mayor Hasek and many community advocates and leaders,” said
Joe Chlapaty, President and Chief Executive Officer, ADS. “This
facility will help meet growing demand for our water management
solutions, and we are excited about our increasing contributions to
the state of Missouri and this wonderful community.”
“Job creation is at the heart of America's economic recovery,
and I am extremely pleased to welcome Advanced Drainage Systems
(ADS) to Missouri's Fourth District,” said Congresswoman Vicky
Hartzler (MO-4). “As a small business owner, I share the excitement
of ADS as it embarks on this expansion that will bring new
employment opportunities to citizens of Harrisonville and Cass
County. I congratulate ADS and look forward to this global
manufacturer opening its Harrisonville operation and launching
production in the new year.”
The Company intends to employ approximately 50 people at this
facility when fully staffed, and will hire locally for employment
opportunities in management, machine operation, and transportation,
among others.
The demand for ADS products has grown significantly, including
revenue growth of 50% from 2011, the year MoDOT updated their
specifications. Enabling specifier choice has contributed to this
growth, and could be replicated across the country with similar
policy advances.
About ADS
Advanced Drainage Systems (ADS) is the leading manufacturer of
high performance thermoplastic corrugated pipe, providing a
comprehensive suite of water management products and superior
drainage solutions for use in the construction and infrastructure
marketplace. Its innovative products are used across a broad range
of end markets and applications, including non-residential,
residential, agriculture and infrastructure applications. The
Company has established a leading position in many of these end
markets by leveraging its national sales and distribution platform,
its overall product breadth and scale and its manufacturing
excellence. Founded in 1966, the Company operates a global network
of 61 manufacturing plants and 31 distribution centers. To learn
more about the ADS, please visit the Company’s website at
www.ads-pipe.com.
Forward Looking
Statements
Certain statements in this press release may be deemed to be
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements
include, but are not limited to, statements regarding the
anticipated timing of opening the Company’s new manufacturing
facility as well as statements regarding the Company’s current
business outlook. These statements are not historical facts but
rather are based on the Company’s current expectations, estimates
and projections regarding the Company’s business, operations and
other factors relating thereto. Words such as “may,” “will,”
“could,” “would,” “should,” “anticipate,” “predict,” “potential,”
“continue,” “expects,” “intends,” “plans,” “projects,” “believes,”
“estimates,” “confident” and similar expressions are used to
identify these forward-looking statements. Factors that could cause
actual results to differ from those reflected in forward-looking
statements relating to our operations and business include:
fluctuations in the price and availability of resins and other raw
materials and our ability to pass any increased costs of raw
materials on to our customers in a timely manner; volatility in
general business and economic conditions in the markets in which we
operate, including, without limitation, factors relating to
availability of credit, interest rates, fluctuations in capital and
business and consumer confidence; cyclicality and seasonality of
the non-residential and residential construction markets and
infrastructure spending; the risks of increasing competition in our
existing and future markets, including competition from both
manufacturers of high performance thermoplastic corrugated pipe and
manufacturers of products using alternative materials; our ability
to continue to convert current demand for concrete, steel and PVC
pipe products into demand for our high performance thermoplastic
corrugated pipe and Allied Products; the effect of weather or
seasonality; the loss of any of our significant customers; the
risks of doing business internationally; the risks of conducting a
portion of our operations through joint ventures; our ability to
expand into new geographic or product markets; our ability to
achieve the acquisition component of our growth strategy; the risk
associated with manufacturing processes; our ability to manage our
assets; the risks associated with our product warranties; our
ability to manage our supply purchasing and customer credit
policies; the risks associated with our self-insured programs; our
ability to control labor costs and to attract, train and retain
highly-qualified employees and key personnel; our ability to
protect our intellectual property rights; changes in laws and
regulations, including environmental laws and regulations; our
ability to project product mix; the risks associated with our
current levels of indebtedness; our ability to meet future capital
requirements and fund our liquidity needs; the risk that additional
information may arise that would require the Company to make
additional adjustments or revisions or to restate further the
financial statements and other financial data for certain prior
periods and any future periods, any further delay in the filing of
any filings with the SEC; the review of potential weaknesses or
deficiencies in the Company’s disclosure controls and procedures,
and discovering further weaknesses of which we are not currently
aware or which have not been detected; additional uncertainties
related to accounting issues generally and other risks and
uncertainties described in the Company’s filings with the
Securities and Exchange Commission. New risks and uncertainties
emerge from time to time and it is not possible for the Company to
predict all risks and uncertainties that could have an impact on
the forward-looking statements contained in this press release. In
light of the significant uncertainties inherent in the
forward-looking information included herein, the inclusion of such
information should not be regarded as a representation by the
Company or any other person that the Company’s expectations,
objectives or plans will be achieved in the timeframe anticipated
or at all. Investors are cautioned not to place undue reliance on
the Company’s forward-looking statements and the Company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20161004006223/en/
Media Contacts:Greg Bohn, 614-658-0050Director of
National EngineeringGreg.Bohn@ads-pipe.comorFTI ConsultingGabby
Tarbert, 410-652-1304Gabby.Tarbert@fticonsulting.comorMichael
Higgins, 614-658-0050Director of Investor Relations & Business
StrategyMike.Higgins@ads-pipe.com
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