AESSEAL Inc is pleased to announce that, following a multi-million dollar investment in US manufacturing in 2019, the Group has made a decision to purchase and install an additional $5.9 million dollars, bringing our total to 6 of modern 9-axes machine tools in its existing manufacturing facility in Rockford, Tennessee. When adding tools, materials, work in progress and other working capital, the total additional investment in Rockford Operations will be circa $11 million dollars.
The Group is also pleased to announce that it has authorised a further investment of $5 million in our fully owned subsidiary, MS&S, in Odessa, Texas with the majority of investment being the construction of a $3.7 million dollar building on 3.44 acre plot that was purchased in November 2019.
The AESSEAL Group, which includes AESSEAL Inc, is held by AES Engineering Ltd. The Managing Director of AES Engineering Ltd., Chris Rea, commented as follows on the investment:
“It is our purpose to provide customers with exceptional customer service. The decision to make this $15 million dollar additional investment in the USA will mean that the US content of products offered for sale in the USA, actually produced in the USA, will be 85%. As our business has grown, the Board of Directors of AES Engineering Ltd has concluded that this investment in the US market is essential to ensure that we continue to be true to our purpose to provide exceptional customer service. It is also a sign of confidence in the United States, which is the largest, most welcoming and most dynamic market in the world.”