Business
Twin Vee PowerCats Co.’s Factory Expansion Receives Final Site Plan Approval from City Commission of Fort Pierce
FORT PIERCE, FL / ACCESSWIRE / April 25, 2023 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and
About this update from Twin Vee Powercats Co.
[{"type":"text","content":"FORT PIERCE, FL / ACCESSWIRE / April 25, 2023 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), (\"Twin Vee\" or the \"Company\"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that it is moving forward with its planned factory expansion after the City Commission of the City of Fort Pierce voted to approve the plan last week. Twin Vee headquarters, located on a 7.27-acre parcel in Fort Pierce, Florida, currently consists of two detached buildings for boat production and storage. When construction is completed, an all-new 23,456-square-foot one-story building and a 4,389-square-foot covered awning will connect the two existing structures, creating a 95,000-square-foot space for the manufacturing facility.A rendering of the Company's new construction at its Fort Pierce factory. \"This expansion is significant for the Company,\" explains Joseph Visconti, CEO and President of Twin Vee PowerCats Co. \"With a larger roof over our heads, Twin Vee will be able to add another manufacturing line to increase our production output. The ability to construct more boats will allow us to build both Twin Vees and LFG Marine boats simultaneously without workflow disruption.\"Having obtained final approval from the City Commission, Visconti expects construction to begin in the coming months and to be completed by the end of the year. \"In the interim, we don't anticipate a reduction in our current manufacturing schedule during construction. Our team is looking forward to the extra space this expansion provides. We believe our new manufacturing facility will help the Company unlock new growth potential and help provide more products to new and existing markets across the country.\"About Twin Vee PowerCats Co.Twin Vee is a designer, manufacturer, distributor, and marketer of power sport catamaran boats. The Company is located in Fort Pierce, Florida, and has been building and selling boats for nearly 30 years. Learn more at twinvee.com. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category, and is known as the \"Best Riding Boats on the Water™\".Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use ...