IEC Announces Purchase of Rochester, NY Facility
15 Settembre 2020 - 10:15PM
IEC Electronics Corp. (Nasdaq: IEC) today announced that it has
entered into an agreement to purchase an 86,000 square foot
facility in Rochester, NY. The new facility is expected to provide
additional capacity and more importantly, access to a larger pool
of qualified resources to support future organic growth.
Jeffrey T. Schlarbaum, President and CEO of IEC Electronics
commented, “We’re really excited to announce the acquisition of an
additional Rochester area facility at 50 Jetview Dr., Rochester,
NY. This new facility represents a key building block for our
company, establishing a Rochester area campus enabling us to tap
into both the eastside and now the westside of the greater
Rochester market. The goal is to consolidate our specialty metals
operation from its current Rochester location on Emerson Street and
combine it with an expanded electronic assembly operation. We
believe this new facility provides an ideal footprint and location
to support our growing customer demand and more importantly,
provides us the ability to recruit skilled resources across the
entire Rochester region, addressing a critical need to support
ongoing double-digit organic growth.”
Mr. Schlarbaum concluded, “Our focus remains on strengthening
our capabilities to meet the high complexity manufacturing needs of
our customers, who rely on IEC as an electronic manufacturing
services provider for life-saving and mission critical products. We
continue to see increased interest from the marketplace and believe
that this expansion of our manufacturing footprint into Rochester
positions us well to achieve continued organic growth as we look
ahead into fiscal 2021 and beyond.”
About IEC Electronics
IEC Electronics is a provider of electronic manufacturing
services ("EMS") to advanced technology companies that produce
life-saving and mission critical products for the medical,
industrial, aerospace and defense sectors. The Company specializes
in delivering technical solutions for the custom manufacture of
complex full system assemblies by providing on-site analytical
testing laboratories, custom design and test engineering services
combined with a broad array of manufacturing services encompassing
electronics, interconnect solutions, and precision metalworking. As
a full service EMS provider, IEC holds all appropriate
certifications for the market sectors it supports including ISO
9001:2015, AS9100D, ISO 13485, and is Nadcap accredited. IEC
Electronics is headquartered in Newark, NY and also has operations
in Rochester, NY and Albuquerque, NM. Additional information about
IEC can be found on its web site at www.iec-electronics.com.
Note Regarding Forward-Looking Statements
References in this release to “IEC,” “IEC Electronics,” the
“Company,” “we,” “our,” or “us” mean IEC Electronics Corp. and its
subsidiaries except where the context otherwise requires. This
release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended, and
the Private Securities Litigation Reform Act of 1995. In some
cases, you can identify forward-looking statements by terms such as
“may,” “will,” “should,” “expects,” “plans,” “anticipates,”
“could,” “intends,” “targets,” “goal,” “optimistic,” “projects,”
“contemplates,” “believes,” “estimates,” “predicts,” “potential” or
“continue” or the negative of these terms or other similar words or
phrases. These forward-looking statements include, but are not
limited to, statements regarding future sales and operating
results, future prospects, the capabilities and capacities of
business operations, any financial or other guidance and all
statements that are not based on historical fact, but rather
reflect our current expectations concerning future results and
events. The ultimate correctness of these forward-looking
statements is dependent upon a number of known and unknown risks
and events and is subject to various uncertainties and other
factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by these
forward-looking statements.
The following important factors, among others, could affect
future results and events, causing those results and events to
differ materially from those views expressed or implied in our
forward-looking statements: the impact of the coronavirus
(“COVID-19”) pandemic on our business, including our supply chain,
workforce and customer demand; business conditions and growth or
contraction in our customers’ industries, the electronic
manufacturing services industry and the general economy; our
ability to control our material, labor and other costs; our
dependence on a limited number of major customers; uncertainties as
to availability and timing of governmental funding for our
customers; the impact of government regulations, including FDA
regulations; unforeseen product failures and the potential product
liability claims that may be associated with such failures;
technological, engineering and other start-up issues related to new
programs and products; variability and timing of customer
requirements; the potential consolidation of our customer base;
availability of component supplies; dependence on certain
industries; the ability to realize the full value of our backlog;
the types and mix of sales to our customers; litigation and
governmental investigations; intellectual property litigation;
variability of our operating results; our ability to maintain
effective internal controls over financial reporting; the
availability of capital and other economic, business and
competitive factors affecting our customers, our industry and
business generally; failure or breach of our information technology
systems; and natural disasters. Any one or more of such risks and
uncertainties could have a material adverse effect on us or the
value of our common stock. For a further list and description of
various risks, relevant factors and uncertainties that could cause
future results or events to differ materially from those expressed
or implied in our forward-looking statements, see our Annual Report
on Form 10-K, our Quarterly Reports on Form 10-Q and our other
filings with the Securities and Exchange Commission.
All forward-looking statements included in this release are made
only as of the date indicated or as of the date of this release. We
do not undertake any obligation to, and may not, publicly update or
correct any forward-looking statements to reflect events or
circumstances that subsequently occur or which we hereafter become
aware of, except as required by law. New risks and uncertainties
arise from time to time and we cannot predict these events or how
they may affect us and cause actual results to differ materially
from those expressed or implied by our forward-looking statements.
Therefore, you should not rely on our forward-looking statements as
predictions of future events.
Company Contact: |
Thomas L. Barbato |
Senior Vice President and
Chief Financial Officer |
IEC Electronics Corp. |
(315) 332-4493 |
tbarbato@iec-electronics.com |
|
Agency
Contact: |
John Nesbett/Jennifer
Belodeau |
IMS Investor Relations |
(203) 972 - 9200 |
jnesbett@institutionalms.com |
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