NEW YORK, Oct. 20, 2014 /PRNewswire/ - Twinlab Consolidated
Holdings, Inc. ("TLCC" or the "Company") announced today that it
expects to add more than 20 new American jobs to support its
expanding contract manufacturing business.
"For nearly 50 years, one of the hallmarks of the Twinlab brand
has been superior quality," explained TLCC CEO Tom Tolworthy. "We protect this legacy by
controlling our own manufacturing and distribution facility in
American Fork, Utah, where we
proudly employ 200+ people, whose attention to quality assurance is
unsurpassed in our industry."
"As we prepared for our recent management-led buyout of the
Twinlab business, we recognized that there was great demand in the
private label marketplace for a trustworthy supplier based in
the United States and dedicated to
quality manufacturing," said Steve
Rolfes, Vice President of Contract Manufacturing at TLCC's
operating subsidiary, Twinlab Consolidation Corporation ("TCC"),
"and we believed this could be a new channel of significant growth
opportunity for TCC."
"The response has been even greater than we expected," continued
Rolfes. "In the last six months we have been awarded private label
manufacturing business from leading internet retailers, prominent
regional supermarket chains, and from leading nationwide retailers,
including recent awards that we believe will add in excess of
$20 million of new business to TCC in
the upcoming year." Rolfes went on to explain that the demand for
TCC's high quality manufacturing capability has been so large that
Twinlab intended to add more than 20 new manufacturing positions at
its Utah facility.
"We believe that our most valuable asset is our people," said
Tolworthy. "The dedication of our employees is what drives me each
day, and I believe the recent awards of private label work we've
received are a testament to the value and quality of our
manufacturing in American Fork,
Utah. There are no guarantees in the contract manufacturing
business. Products we have been awarded can be put out for bid
again in as little as 18 months and private label customers are not
required to make purchases from us. But, as with all we do, we will
dedicate ourselves to delivering upon the great measure of trust
that has been placed with us by our customers, and we have every
confidence that our contract manufacturing customers will continue
to look to us as a primary vendor of choice and that this area of
our business will continue to grow."
About Twinlab Consolidated Holdings, Inc.
Twinlab Consolidated Holdings Inc., is the parent holding company
of Twinlab Consolidation Corporation, an industry-focused health
and wellness company committed to developing top brands. An
employee-owned company, TLCC aligns the interest of all
stakeholders and has a portfolio of products that are made in
America using the finest ingredients from around the world. In
addition to its namesake brand, Twinlab�®, established in 1968,
TLCC, through TCC and its subsidiaries, also manufactures and sells
other well-known category leaders including the Metabolife�® line
of diet and energy products; the Twinlab�® Fuel line of sports
nutrition products; Alvita�® teas, established in 1922 as a
single-herb tea line; Trigosamine�® joint support products as well
other health and wellness brands. Twinlab's manufacturing facility
in American Fork, Utah is an NSF
GMP and NSF GMP for Sport certified facility. Visit www.twinlab.com
for more information.
Forward Looking Statements
Statements we make in this press release may include
statements which are not historical facts and are considered
forward-looking within the meaning of Section 27A of the Securities
Act and Section 21E of the Securities Exchange Act, which are
usually identified by the use of words such as "anticipates,"
"believes," "estimates," "expects," "intends," "may," "plans,"
"projects," "seeks," "should," "will," and variations of such words
or similar expressions. We intend these forward-looking statements
to be covered by the safe harbor provisions for forward-looking
statements contained in Section 27A of the Securities Act and
Section 21E of the Securities Exchange Act and are making this
statement for purposes of complying with those safe harbor
provisions. These forward-looking statements reflect our current
views about our plans, intentions, expectations, strategies and
prospects, which are based on the information currently available
to us and on assumptions we have made. Although we believe that our
plans, intentions, expectations, strategies and prospects as
reflected in or suggested by those forward-looking statements are
reasonable, we can give no assurance that the plans, intentions,
expectations or strategies will be attained or achieved.
Furthermore, actual results may differ materially from those
described in the forward-looking statements and will be affected by
a variety of risks and factors that are beyond our control
including, without limitation, that the products that have been
awarded may not ultimately be purchased, that we may not generate
as much revenue from the products awards as we expect, that we may
not be able to hire as we intend, as well as those other risks set
forth in the "Item 2.01 Risk Factors" section of our Current
Report on Form 8-K filed with the SEC on September 22, 2014 as updated by our other
SEC filings. We assume no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Twinlab Consolidated Holdings, Inc.
