AmpliTech to Expand Manufacturing Capacity and Enhance Operating Efficiency by Relocating to New 20K Square-Foot Headquarters Facility on Long Island
October 29 2021 - 9:00AM
AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and
manufacturer of state-of-the-art signal-processing components for
satellite and 5G communications networks, defense, space, and other
commercial applications, today announced plans to relocate its
existing manufacturing locations and headquarters into a new,
expanded 20,000 square-foot facility on Long Island. AmpliTech has
leased the facility, located at 155 Plant Avenue, Hauppauge, NY,
for an initial 7-year term.
The new facility substantially expands AmpliTech’s existing
13,100 square foot footprint and combines, for the first time, the
Company’s design, engineering and sales and marketing teams under
one roof, enabling greater collaboration, operational efficiency
along with significant room for growth. This new facility will
incorporate a state-of-the-art enhanced class 10K clean room to
support production of the Company’s space-grade products. AmpliTech
expects to be fully operational at the new manufacturing and
headquarters facility in the first quarter of 2022.
Fawad Maqbool, CEO, commented, “It has been our goal to
consolidate our two Long Island locations into a new and enhanced,
purpose-driven facility built around our needs. There, we expect to
benefit from an enhanced customer experience, greater collaboration
across our business units and improved economies of scale, while
also providing an expanded footprint for both internal and external
growth. The near-term completion of this effort represents another
important step in our vision to expand AmpliTech’s growth potential
and capabilities.”
The Hauppauge facility combines existing R&D, engineering,
and manufacturing operations for the Company’s industry-leading
low-noise radio signal amplifier (LNAs) product line, along with
AmpliTech’s management and administration, currently based in
Bohemia, NY, Specialty Microwave division in Ronkonkoma, NY-based
team and Satcom product manufacturing and assembly operations.
Specialty Microwave was acquired by AmpliTech in September
2019.
About AmpliTech Group, Inc. (www.AmpliTechinc.com)
AmpliTech Group, Inc. designs, develops, and manufactures
state-of-the-art radio frequency (RF) components for global
satellite communications, telecom (5G & IoT), space, defense,
and quantum computing markets as well as systems and component
design consulting services. AmpliTech has a 13+ year track record
of developing high performance, custom solutions to meet the unique
needs of some of the largest companies in the global industries we
serve. We are proud of the unique skills, experience and dedication
of our focused team which enables us to deliver superior solutions,
faster time to market, competitive pricing and excellent customer
satisfaction and repeat business.
Safe Harbor Statement
This release contains statements that constitute forward-looking
statements. These statements appear in several places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the Company, its directors, or its officers with
respect to, among other things: (i) the Company's ability to
execute its business plan as anticipated; (ii) trends affecting the
Company's financial condition or results of operations; (iii) the
Company's growth strategy and operating strategy. The words "may,"
"would," "will," "expect," "estimate," "anticipate," "believe,"
"intend," and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements because of various
factors. Other risks are identified and described in more detail in
the “Risk Factors” section of the Company’s filings with the SEC,
all of which are available on our website. We undertake no
obligation to update, and we do not have a policy of updating or
revising, these forward-looking statements, except as required by
applicable law.
Company
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Company
Contact:
Shan Sawant, Director of
Communications
AmpliTech Group,
Inc.
shan@amplitech.com
646-546-7128
Investor ContactDavid Collins or William JonesCatalyst
IRampg@catalyst-ir.com212-924-9800
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