Forward Industries Announces Relocation of Corporate Headquarters to Hauppauge, NY
September 09 2020 - 11:00AM
Forward Industries (NASDAQ: FORD) today announced that it has moved
its corporate headquarters to Hauppauge, NY from West Palm Beach,
Fla. to maximize the synergy with its subsidiary Intelligent
Product Solutions, also located in Hauppauge (Long Island, NY).
“The decision to relocate our headquarters to Hauppauge reflects
the group’s continued focus on growing our design division whilst
improving efficiency from consolidating resources,” said Terry
Wise, CEO of Forward Industries. “Our subsidiary,
Intelligence Product Services (IPS), continues to play a pivotal
strategic role in the Group’s future growth and success.”
The Forward relocation to Long Island builds on IPS’ recent
expansion, with the addition of a light manufacturing and
prototyping facility in Ronkonkoma, NY.
Forward Industries acquired Intelligent Product Solutions in
January 2018. IPS, an award-winning global product design and
development company, offers expert product design and
engineering services, including Internet of Things (IoT)
and wearable technology solutions. Its clients are among
the leading brands in consumer electronics, medical devices,
enterprise and security solution providers, and IoT-connected
solutions.
In August 2020, Forward Industries acquired the assets of
Kablooe Design, an innovative leading medical and consumer design
and development company, and that company will now also be
headquartered in Hauppauge with operations in Minneapolis,
Minn.
In addition, Forward’s new Hauppauge headquarters location
provides it with proximity to the Northeast market, with greater
access to the many medical customers and potential medical
customers located in the region.
About Forward IndustriesIncorporated in 1962,
and headquartered in Long Island, New York, Forward Industries is a
global design, manufacturing, sourcing and distribution group. The
company has a 30-year plus track record of Far Eastern sourcing
capability. Forward’s products can be viewed online at
www.forwardindustries.com.
Cautionary Note Regarding Forward-Looking StatementsThis press
release includes forward-looking statements including statements
regarding synergies, growth and opportunities from the acquisition.
The words "believe," "may," "estimate," "continue," "anticipate,"
"intend," "should," "plan," "could," "target," "potential," "is
likely," "will," "expect" and similar expressions, as they relate
to us, are intended to identify forward-looking statements. We have
based these forward-looking statements largely on our current
expectations and projections about future events and financial
trends that we believe may affect our financial condition, results
of operations, business strategy and financial needs. The results
anticipated by any or all of these forward-looking statements might
not occur. Important factors that could cause actual results to
differ from those in the forward-looking statements include our
ability to successfully integrate Kablooe into Forward, changes
affecting the business in which Kablooe operates, continued
economic downturn from the COVID-19 pandemic and competition from
third parties. Further information on our risk factors is contained
in our filings with the SEC, including our Annual Report on Form
10-K. We undertake no obligation to publicly update or revise any
forward-looking statements, whether as the result of new
information, future events or otherwise.
For more media information, contact: Anthony Camarda (631)
547-3041acamarda@forwardindustries.com
Lisa Hendrickson(516) 643-1642PR for Intelligent Product
Solutionslisa@lchcommunications.com
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