Worksport Completes Installation of Custom Manufacturing Line, Ready for Training, Tests and Finalization of Assembly Line for Production
04 May 2023 - 10:00PM
Worksport Ltd.
(Nasdaq: WKSP;
WKSPW) (the “Company” or “Worksport”)
is pleased to announce that it has completed the installation
of its US$4 million custom European manufacturing line, which was
delivered to the Company’s facility in West Seneca, New York
earlier than expected this past March, allowing Worksport to begin
rigorously training its staff and testing the machinery. The
training phase is expected to take several weeks, followed by
numerous manufacturing line test runs. The Company has also started
to build out the assembly line.
Many of the Company’s staff members expected to
undergo training were hired at the Company's recent Job Fair at its
220,000 sq. ft. West Seneca, N.Y. factory and are primarily local
residents. Worksport’s mission includes being a positive force --
and an employer -- in its local community. The Company will update
investors when all key hires are completed.
"We are so excited to have reached yet another
significant Worksport milestone, the installation of our
manufacturing line," said Worksport CEO Steven Rossi. "We can
clearly envision the American production of our advanced,
hard-folding tonneau cover at our wholly-owned factory. Then, in
due course, we expect to produce the proprietary SOLIS
solar-charging tonneau cover at this same facility. That will
be a great moment for the Company -- long planned and anticipated
by both customers and investors, representing yet another step
forward on the path to the goal of revenue growth."
When production begins, Worksport's hard-folding
tonneau covers are expected to reach the market right away. The
Company will also provide an update on its newly
redesigned COR HD advanced hot-swap battery system, which
must be tested and completed before its companion SOLIS cover
can be sold. The Company will continue to inform investors as each
of these milestones occur.
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP; WKSPW), through
its subsidiaries, designs, develops, manufactures, and owns the IP
on a variety of tonneau covers, solar integrations, and NP
(Non-Parasitic), Hydrogen-based true green energy solutions for the
sustainable, clean energy, and automotive industries. Worksport
Ltd. seeks to capitalize on the growing shift of consumer mindsets
towards clean energy integrations with its proprietary solar
solutions, mobile energy storage systems (ESS), and NP
(Non-Parasitic), Hydrogen-based technology. For more
information, please visit www.worksport.com.
Connect with Worksport:
Please follow the company’s social media
accounts
on Twitter, Facebook, Linkedin, YouTube, and Instagram,
as well as sign up for the company’s newsletters
at www.worksport.com. Worksport Ltd. strives to provide
frequent updates of its operations to its community of investors,
clients, and customers to maintain the highest level of
visibility.
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For additional information, please
contact:Steven ObadiahInvestor RelationsWorksport Ltd.
T: 1 (888) 554
8789E: investors@worksport.comW: www.worksport.com
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forward-looking statements include, among others, the following:
supply chain delays, acceptance of our products by consumers,
delays in or nonacceptance by third parties to sell our products,
competition from other producers of similar products. More
detailed information about the Company and the risk factors that
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forth in the Company’s filings with the Securities and Exchange
Commission (SEC), including our Annual Report on Form 10-K and our
subsequent Quarterly Reports on Form 10-Q. Investors and security
holders are urged to read these documents free of charge on the
SEC’s web site at www.sec.gov. As a result of these matters,
changes in facts, assumptions not being realized or other
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from the expected results discussed in the forward-looking
statements contained in this press release. The forward-looking
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