Business
Key Tronic Corporation Plans to Expand Operations in Arkansas and Vietnam
Arkansas Expansion Expected Completion by June 2025; Vietnam by September 2025 SPOKANE VALLEY, Wash., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Key Tronic Corporation
About this update from Key Tronic Corporation
[{"type":"text","content":"Arkansas Expansion Expected Completion by June 2025; Vietnam by September 2025\nSPOKANE VALLEY, Wash., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Key Tronic Corporation (Nasdaq KTCC), a world class provider of manufacturing and design engineering services, today announced that it plans to significantly increase production capacity in Arkansas and Vietnam in order to continue to benefit from the growing customer demand for rebalancing their contract manufacturing. This expansion is also expected to help mitigate the adverse impact and uncertainties surrounding the recently announced tariffs on goods manufactured in China and Mexico. In Arkansas, the Company has signed a new lease to significantly increase the size of its current manufacturing footprint by June 2025. In Vietnam, Key Tronic has ample space in its current facility and plans to double its manufacturing capacity by September 2025 with a significant investment in capital equipment. “Our customers are very excited about our plans to increase our production capacity capabilities in the US and in Vietnam,” said Brett Larsen, President and CEO of Key Tronic Corporation. “These initiatives reflect the longstanding trend to nearshore production away from China, and may also help address the potential adverse impact of tariff increases. Our US-based production provides customers with outstanding flexibility, engineering support, and ease of communications, and our Vietnam-based production offers the high-quality, low-cost choice that was associated with China in the past. In the coming months, we’ll have more to say about these expansions.” About Key Tronic Key Tronic is a leading design engineering and contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. Key Tronic provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world’s leading original equipment manufacturers. For more information about Key Tronic visit: www.keytronic.com. Forward-Looking Statements Some of the statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Key Tronic’s opportunities ...