90,000 sq. ft. Warehouse Facility Expansion to Support Rapid
Growth of Motor and Marine Product Verticals
GARLAND,
Texas, May 21, 2024 /PRNewswire/ -- Massimo
Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and
distributor of powersports vehicles and pontoon boats, today
announced an expansion of its manufacturing facility in
Garland, Texas, to support
increased production across its motor and marine product
verticals.
The expansion will add 90,000 sq. ft. to the existing facility.
The Garland location will continue
to manufacture its Pontoon Boats in its now 376,000 sq. ft.
facility, of which 260,000 sq. ft. is dedicated to Massimo Motor
Sports and 96,000 sq. ft. to Massimo
Marine. The facility expansion is the first in a series of
expansion projects to accommodate the Company's growth
initiatives.
"This expansion is a timely project concurrent with the growth
of both our motor and marine verticals as we ramp up our production
to support increased sales," said David
Shan, Founder, Chairman & CEO of Massimo. "We continue
to experience sales momentum across UTVs, ATVs, and electric bikes
as well as pontoon boats, which accounted for annual revenue growth
of 32% and 38%, respectively, in 2023. The expansion allows Massimo
to deliver on this surging demand while making capacity for
potential new product lines."
The facility sits next to a seven-acre storage area for boats in
Dallas, Texas, and houses a design
center, two assembly lines, quality control bay, an approximately
40,000 sq. ft. parts department, and over 30 loading docks.
Structural components and other materials are sourced from a
variety of suppliers. Electrical components and boat engines are
procured through an exclusive arrangement with Mercury Marine. The facility is featured in the
Massimo overview video linked here.
In addition to serving as the manufacturing hub for Massimo's
Pontoon Boats, the facility is outfitted to efficiently palletize
and shrink-wrap ATVs and UTVs, enabling the shipment of most orders
to stores or distributors within three days. The majority of the
Company's inventory is directly imported from its manufacturer
network to its Garland facility
where they undergo assembly, accessorization, and inspection before
shipment to a distributor or directly to the customer, except for
its pontoon boats, which are wholly manufactured at the
Garland facility.
About Massimo Group
Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor
of powersports vehicles and pontoon boats. Founded in 2009, Massimo
Motor believes it offers some of the most value packed UTV's,
off-road, and on-road vehicles in the industry. The company's
product lines include a wide selection of farm and ranch tested
utility UTVs, recreational ATVs, and Americana style mini-bikes.
Massimo Marine manufacturers and
sells Pontoon and Tritoon boats with a dedication to innovative
design, quality craftsmanship, and great customer service. Massimo
is also developing electric versions of UTVs, golf-carts and
pontoon boats. The company's 376,000 square foot factory is in the
heart of the Dallas / Fort Worth
area of Texas in the city of
Garland.
For more information,
visit massimomotor.com, massimomarine.com,
and massimoelectric.com.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the initial
public offering and the use of proceeds thereof. In some cases, you
can identify forward-looking statements because they contain words
such as "anticipate," "believe," "estimate," "expect," "intend,"
"may," "predict," "project," "target," "potential," "seek," "will,"
"would," "could," "should," "continue," "contemplate," "plan," and
other words and terms of similar meaning. These forward-looking
statements include information concerning statements regarding
future cash needs, future operations, business plans and future
financial results; and any other statements that are not historical
facts. No assurance can be given that the proceeds of the offering
will be used as indicated. Forward-looking statements are subject
to numerous conditions, many of which are beyond the control of
Massimo, including those set forth in the "Risk Factors" section of
Massimo's Annual Report on Form 10-K filed with the SEC. Copies are
available on the SEC's website, www.sec.gov. Massimo undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Company
Dr. Yunhao
Chen
Chief Financial Officer
Massimo Group
ir@massimomotor.com
Investor Relations
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
MAMO@mzgroup.us
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SOURCE Massimo Group