Mayville Engineering Company Finalizes Plans to Open New Facility in Hazel Park, Michigan
June 10 2021 - 4:00PM
Business Wire
Expansion Plans Include Adding Approximately
390 Skilled Employees in Michigan During Coming Years
Mayville Engineering Company (NYSE: MEC) (the “Company” or
“MEC”), a leading U.S.-based value added manufacturing partner that
provides a broad range of prototyping and tooling, production
fabrication, coating, assembly and aftermarket services, today
announced it has finalized an agreement to open a new manufacturing
facility in Hazel Park, Michigan to align production capacity with
a new strategic customer relationship.
“We are pleased to have finalized our plans for a new facility
that significantly expands our manufacturing capacity in Michigan,”
explained Bob Kamphuis, Chairman, President and Chief Executive
Officer. “This facility will include state of the art technology
and equipment, which will allow us to efficiently produce the
highest quality components for our new customer starting early next
year.”
Rand Stille, Chief Operating Officer, noted, “After reviewing
many alternative sites and states, we selected Hazel Park, Michigan
due to the availability of a highly skilled manufacturing workforce
in the area to support existing demand and potential further market
growth opportunities. We are grateful for the support of both the
city of Hazel Park and the State of Michigan and look forward to
our future success together.”
The Company signed a ten-year lease for the new facility, which
includes approximately 450,000 square feet of manufacturing space.
The Company plans to hire up to 390 employees and invest between
$35 million to $45 million in capital in the coming year with full
production planned to commence in early 2022. As part of the
agreement, the Company also received a $2.5 million incentive
package from the State of Michigan. In addition to the new
facility, MEC maintains five other Michigan based facilities with
over 300,000 square feet of manufacturing space in the cities of
Byron Center, Vanderbilt and Wayland.
“We are pleased to welcome MEC to Hazel Park and believe this
agreement is a great example of the type of long-term partnership
we are forging with companies that are expanding U.S. based
manufacturing and bringing skilled employment opportunities to
Michigan,” stated Mike Webb, Mayor of Hazel Park, Michigan.
About Mayville Engineering Company
MEC is a leading U.S.-based value-added manufacturing partner
that provides a broad range of prototyping and tooling, production
fabrication, coating, assembly and aftermarket components. Our
customers operate in diverse end markets, including heavy- and
medium-duty commercial vehicles, construction, powersports,
agriculture, military and other end markets. We have developed
long-standing relationships with our blue-chip customers based upon
a high level of experience, trust and confidence.
Our one operating segment focuses on producing metal components
that are used in a broad range of heavy- and medium-duty commercial
vehicles, construction, powersports, agricultural, military and
other products. For more information, please visit
www.mecinc.com.
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INVESTOR AND MEDIA CONTACT: Nathan Elwell 847-530-0249
nelwell@lincolnchurchilladvisors.com
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