Hazel Park, Michigan

Mayville Engineering Company Announces Fourth Quarter and Full-Year 2023 Results

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星期二, 三月 5, 2024
Automotive, Other Manufacturing, Engineering, Chemicals, Plastics, Automotive Manufacturing, Aerospace, Manufacturing, General Automotive, Other Construction & Property, Residential Building & Real Estate, Defense, Commercial Building & Real Estate, Construction & Property, Military, Machinery, Machine Tools, Metalworking & Metallurgy, Performance & Special Interest, Off-Road Trucks & SUVs, Motorcycles, Aftermarket, Acquisition, MBX, Yoy, MSA, Investment, Share repurchase, Growth, Reddy, Adjustment, Hazel Park, Michigan, Automation, Public expenditure, UAW, EPS, Agriculture, MEC, Pharmaceutical industry

Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced results for the three and twelve-months ended December 31, 2023.

Key Points: 
  • Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced results for the three and twelve-months ended December 31, 2023.
  • Excluding the impact of the MSA acquisition, net sales increased organically by 6.1% year-over-year in the fourth quarter 2023.
  • Profit sharing, bonus and deferred compensation expense decreased $0.5 million to $3.6 million in the fourth quarter of 2023.
  • Free cash flow during the fourth quarter 2023 was $19.9 million as compared to ($0.7) million in the prior year period.

Mayville Engineering Company to Introduce Strategy Update & Multi-Year Financial Targets at 2023 Investor Day

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星期四, 九月 14, 2023
Machine Tools, Metalworking & Metallurgy, Engineering, Chemicals, Plastics, Automotive Manufacturing, Manufacturing, Other Manufacturing, Webcast, Growth, Hazel Park, Michigan, MEC, Acquisition, Marketing, MBX, Investment, NYSE, Share repurchase, Management, Retail

Within its presentation, MEC will also introduce new, three-year performance targets, as outlined below.

Key Points: 
  • Within its presentation, MEC will also introduce new, three-year performance targets, as outlined below.
  • “Today, we are introducing three-year performance targets that highlight the significant value creation potential of our business,” stated Jag Reddy, President and CEO of MEC.
  • The Company anticipates these actions will result in net sales growth of $170 to $240 million between year-end 2023 and year-end 2026.
  • Between year-end 2023 and year-end 2026, the Company anticipates that it will generate approximately $200 million in free cash flow.

Mayville Engineering Company to Host Inaugural Investor Day on September 14, 2023

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星期四, 七月 20, 2023
Manufacturing, Engineering, Webcast, Hazel Park, Michigan, MEC, NYSE

Mayville Engineering Company, Inc. (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it will host an Investor Day at its Hazel Park, Michigan facility on Thursday September 14, 2023, beginning at 9:00 a.m. Eastern Time.

Key Points: 
  • Mayville Engineering Company, Inc. (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it will host an Investor Day at its Hazel Park, Michigan facility on Thursday September 14, 2023, beginning at 9:00 a.m. Eastern Time.
  • During the event, MEC’s senior leadership team will provide an update on its long-term strategy, markets, operations, and key growth opportunities.
  • Both in-person and virtual attendees are required to register to attend the event at https://app.webinar.net/P7MnEVo9kxV .
  • After registering, participants will receive a confirmation email with details on the event.

Tyson 2.0, Mike Tyson's Premium Cannabis Brand, Launches Across Michigan with Exclusive Cultivation Partner Common Citizen

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星期三, 二月 2, 2022
Hazel Park, Michigan, Cannabis, Patient, Partnership, Adult, Humanity, Industry, Multimedia, Drug, Online shopping

ORANGE COUNTY, Calif., Feb. 2, 2022 /PRNewswire/ -- Tyson 2.0 , legendary boxer, entrepreneur and cannabis advocate Mike Tyson's newly launched cannabis company, today announced its premium cannabis line will be available across Michigan through an exclusive cultivation partnership with Common Citizen , the state's largest, fully integrated cannabis operator.

Key Points: 
  • ORANGE COUNTY, Calif., Feb. 2, 2022 /PRNewswire/ -- Tyson 2.0 , legendary boxer, entrepreneur and cannabis advocate Mike Tyson's newly launched cannabis company, today announced its premium cannabis line will be available across Michigan through an exclusive cultivation partnership with Common Citizen , the state's largest, fully integrated cannabis operator.
  • "Bringing Tyson 2.0 products to Michigan with a partner like Common Citizen upholds our promise to share the many wellness benefits of this powerful plant to those who need it most," said Mike Tyson, Chief Brand Officer for Tyson 2.0.
  • Common Citizen, a fully-integrated cannabis company and lifestyle brand that provides safe, high-quality cannabis products for patients and adult-use customers, will be Tyson 2.0's exclusive cultivation partner in Michigan.
  • We are honored Mr. Tyson chose Common Citizen to launch his safe, affordable and high-quality cannabis products across Michigan."

Common Launches at The Agnes, Brings Luxury Coliving to Jersey City

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星期二, 一月 11, 2022
The Saint Agnes School, City, Technology, Agnes, Noah, Hazel Park, Michigan, Board of directors, Philosophy, Instagram, Tula, Common, Journal Square, Blumberg, Culture, Founder, Coffeehouse, Workforce, Hazel, Backdrop, Board, Property management, Kinnevik AB

Together with real estate developers Fields Grade and Blumberg & Freilich, Common will be managing the first coliving offering in Jersey City.

Key Points: 
  • Together with real estate developers Fields Grade and Blumberg & Freilich, Common will be managing the first coliving offering in Jersey City.
  • Through Common's all-inclusive residential model, their coliving rents will begin at $1,375 15% less than market rate studios in Jersey City.
  • "As the leaders in coliving, Common is thrilled to bring this offering to Jersey City exclusively at The Agnes," Brad Hargreaves CEO and Founder of Common said.
  • With extensive experience managing in the New York City area, Jersey City is a natural extension for Common's coliving offering."

GrowGeneration Signs Asset Purchase Agreement to Acquire Nation's Third-Largest Chain of Hydroponic Garden Centers

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星期三, 七月 28, 2021
Metro Detroit, Hydroponic garden, Hazel Park, Michigan, Garden centre, Hydroponic garden, HGS, Imlay

DENVER, July 28, 2021 /PRNewswire/ -- GrowGeneration Corp. (NASDAQ: GRWG), ("GrowGen" or the "Company") the nation's largest chain of specialty hydroponic and organic garden centers, today announced the signing of an asset purchase agreement to acquire HGS Hydro, the nation's third-largest chain of hydroponic garden centers, with six stores across Michigan and a seventh store slated to open in the fall of 2021. This transaction is expected to close before the end of fiscal year-end 2021. Founded in 2015 by Rocky Shaeena, HGS Hydro is the largest chain of hydroponic garden centers in the state of Michigan and generated approximately $50 million in revenue in 2020.

Key Points: 
  • Founded in 2015 by Rocky Shaeena, HGS Hydro is the largest chain of hydroponic garden centers in the state of Michigan and generated approximately $50 million in revenue in 2020.
  • When completed, the transaction will also bring the total number of GrowGen hydroponic garden centers in Michigan to 14 and the total number of stores to 65.
  • The new GrowGen locations will include Shelby Township, Southfield, Sterling Heights, Hazel Park, Walled Lake, Albion, and Imlay City, Michigan.
  • "The combination of HGS Hydro and GrowGeneration will further solidify GrowGen's leadership position as the nation's largest chain of hydroponic garden centers.

DGAP-News: AKASOL drives dynamic growth in the US and places follow-up order for delivery of fully automated production plant for the US site in Hazel Park

Retrieved on: 
星期四, 八月 20, 2020
Giga New York, Battery, Gigafactory, Hazel Park, Michigan, Sono Motors Sion, Giga Nevada, Giga Berlin

In February this year, the two companies signed a cooperation agreement with a total order volume of up to EUR 20 million.

Key Points: 
  • In February this year, the two companies signed a cooperation agreement with a total order volume of up to EUR 20 million.
  • The second generation of AKASystem OEM PRC is now set for series production in the second half of the year.
  • Beginning in late 2021, for instance, AKASOL will commission its Gigafactory 2 in Hazel Park with gradual expansion to an annual total capacity of approx.
  • The follow-up order for the Gigafactory 2 in Hazel Park includes delivery of a nearly identical production line for modules.