Richmond Hill, Ontario, Canada, May 17, 2023 (GLOBE NEWSWIRE) — Worksport Ltd. (Nasdaq: WKSP; WKSPW) (the “Company” or “Worksport”) is pleased to announce that in preparation for the Company’s anticipated launch of its light truck hardcover assembly in its wholly owned 220,000 sq. ft. West Seneca, N.Y. manufacturing facility, the Company has hired ten new staff members, including Manufacturing and Industrial Engineers.
“Achieving milestone after milestone, that’s Worksport today. We forecasted that we would build out our U.S. factory, and we have. Now we are adding the skilled employees to operate it,” said CEO Steven Rossi. “We are so excited and proud to welcome these new top-quality individuals to our staff. They come from the local community, and as an employer, we are proud to be a positive economic force in Western New York.”
In addition to the Company’s new Manufacturing and Industrial engineers, other projected staff include new employees in enterprise resource planning (ERP), Office Administration, Quality Management, and Buying and Planning. “In full operation, the Company is expected to hire new individuals in maintenance, as well as operational and assembly personnel,” Rossi said.
“With the new personnel in place, the Company is one step closer to starting U.S. assembly of our hard folding tonneau covers in Western N.Y.,” Rossi said. “After much testing and training, we anticipate our new manufacturing line’s smooth and efficient operation. Several customers are reviewing samples of our covers for final approval, and we believe we are very close to having the Company’s private-labelled hard-folding covers market-ready, in the hands of customers ready to purchase large quantities of our U.S.-assembled products. We are progressing toward our long-predicted goal of revenue growth as soon as production begins.”
The Company also anticipates providing additional information to investors and shareholders about the expected production launch and its newly improved COR advanced hot-swap battery system, which must be tested and completed before its companion SOLIS solar tonneau cover can be produced and sold.
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:
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For additional information, please contact:
T: 1 (888) 554 8789 E: [email protected] W: www.worksport.com
The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the 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 may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and our 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 circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
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