A plan started more than two years ago by Kronos Advanced Technologies (OTC: KNOS) is a step closer to fruition today; the company recently announced closed on the acquisition of an 85,000-square-foot West Virginia manufacturing campus that will be retrofitted to produce advanced, proprietary air-purification devices and other wellness products (https://nnw.fm/h1P8n).
“Nearly two years ago, we set into motion a strategic plan to transform Kronos from a marketing and fulfillment company, positioned within the fragmented market space of air purification, into a globally dominant consumer product design and manufacturing company,” said Kronos COO and CTO Joseph Florence. “Our vision is for Kronos to become a household recognized, customer-centric design and manufacturing company providing products that improve the human condition by enhancing the air we breathe, the water we drink, the food we eat, and the environment we live in. This acquisition is a key foundational milestone in our transformation.”
The just-finalized acquisition, which required significant levels of capital and management investment, is essential to Kronos’ detailed, specific transformation plan because the plant checked all the boxes the company desired for its first design and manufacturing campus. The 10-acre location, which for more than two decades produced advanced electronics such as high-density circuit boards for aviation, military, industrial and medical products, includes warehouses and a 62,000-square-foot manufacturing facility with all infrastructure and equipment needed to immediately begin contract assembly.
In addition, noted Florence, “the acquired manufacturing campus is located within a day’s drive of one-half of the USA population and one-third of the Canadian market. This demographic represents a significant portion of our future customers. Kronos is confident that this acquisition will enable us to focus on the efficient fulfillment of our current product line, the utilization of our recently acquired equipment to begin offering contract manufacturing services, and the ability to initiate the transition of our conceptual designs into production.”
KNOS officials have worked closely with the state of West Virginia and the community of Parkersburg, where the campus is located. Company representatives noted that the job possibilities for the area are enormous, with some 300 new jobs anticipated to open by next month. The company also acknowledged the support of the West Virginia Economic Development Agency (WVEDA) and the city as KNOS has worked to take this next step forward.
“This community has a long history of providing a competitive location for manufacturers, and we are proud to now be in the great state of West Virginia,” said Florence. “We are developing the manufacturing workplace of the future—from our development of industry 4.0 next-generation robotic manufacturing processes to our lean and collaborative work environment. We are poised to succeed.”
Moving forward, the company is committed to manufacturing completely on American soil. Kronos is focused on next-generation wellness consumer electronics products and PPE solutions. Originally founded in 2002 and funded by the U.S. military to develop electrostatic air movers, KNOS next evolved into the consumer air-purification space, initially focusing on developing, marketing and selling its proprietary air movement and purification technology. Its proprietary technology is now also being implemented in multiple standalone products for businesses, homes and vehicles of all types to move, sterilize and filter air.
Kronos Advanced Technologies is exploring broad ranges of additional markets for standalone and embedded Kronos CORE technology-based devices, including schools, universities, healthcare facilities, operating rooms, manufacturing clean rooms, and automobiles and commercial aircraft cabins.
For more information, visit the company’s website at www.KronosATI.co.
NOTE TO INVESTORS: The latest news and updates relating to KNOS are available in the company’s newsroom at https://nnw.fm/KNOS
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork
No comments:
Post a Comment