Business
Worksport Investing in Increased Manufacturing Capacity to meet Anticipated Demand Surge
TORONTO, March 02, 2021 (GLOBE NEWSWIRE) -- Worksport Ltd (OTC: WKSP) (or the “Company”) is updating its shareholders regarding its strategic manufacturing
About this update from Worksport, Ltd.
[{"type":"text","content":"TORONTO, March 02, 2021 (GLOBE NEWSWIRE) -- Worksport Ltd (OTC: WKSP) (or the “Company”) is updating its shareholders regarding its strategic manufacturing investments. The company is in final phases of discussions with a few very-high-value strategic partners – Tier-1 and Tier-2 OEM manufacturing power houses in Canada – to expand its manufacturing into North American state-of-the-art facilities with 20,000 - 50,000 sq. ft. of operating space. These discussions involve logistics for the best & most effective ways to support the growth of Worksport. One of the most important operational facets is ensuring scalability in Worksport’s manufacturing processes. The chosen factory will be able to support Worksport’s forthcoming rapid operational acceleration which is vital as the Company grows with an expanding and maturing footprint. “This also means that the Company will have more control over capital expenses, greatly reducing risks of overextending its financials during periods of intense demand as we forge ahead in major-player Automotive, Freight & Transport, Marine, and Rail ecosystems,” said Worksport CEO Steven Rossi. And elaborating on the facility requirements, Mr. Rossi adds, “Worksport is only considering factory candidates that offer the highest quality infrastructure, conducive for hosting Company-specific systems so as to avoid risks of any major inadequacies.” With its recent U.S.-based Private Label customer growth, these manufacturing investments are sure to help Worksport exceed those customer expectations relating to quality, efficacy, and reliability of work, all conducive to overall customer satisfaction. It is also worth noting that as the Company finalizes plans to set the playing field for a powerful manufacturing presence in North America, their optimized Design-for-Manufacturing (DFM) processes will provide capabilities to utilize Just-in-Time (JIT) manufacturing methods for producing products and fulfilling orders on-demand, while also ensuring the highest level of quality assurance. To stay up-to-date on all the latest Worksport news… investors, shareholders, and supporters are encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com and www.goterravis.com. Worksport will continue to update...