Massimo Group Announces Expansion of its Manufacturing Facility in Garland, Texas

Source: www.gulfoilandgas.com 5/21/2024, Location: North America

Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced an expansion of its manufacturing facility in Garland, Texas, to support increased production across its motor and marine product verticals.

The expansion will add 90,000 sq. ft. to the existing facility. The Garland location will continue to manufacture its Pontoon Boats in its now 376,000 sq. ft. facility, of which 260,000 sq. ft. is dedicated to Massimo Motor Sports and 96,000 sq. ft. to Massimo Marine. The facility expansion is the first in a series of expansion projects to accommodate the Company's growth initiatives.

"This expansion is a timely project concurrent with the growth of both our motor and marine verticals as we ramp up our production to support increased sales," said David Shan, Founder, Chairman & CEO of Massimo. "We continue to experience sales momentum across UTVs, ATVs, and electric bikes as well as pontoon boats, which accounted for annual revenue growth of 32% and 38%, respectively, in 2023. The expansion allows Massimo to deliver on this surging demand while making capacity for potential new product lines."

The facility sits next to a seven-acre storage area for boats in Dallas, Texas, and houses a design center, two assembly lines, quality control bay, an approximately 40,000 sq. ft. parts department, and over 30 loading docks. Structural components and other materials are sourced from a variety of suppliers. Electrical components and boat engines are procured through an exclusive arrangement with Mercury Marine. The facility is featured in the Massimo overview video linked here.

In addition to serving as the manufacturing hub for Massimo's Pontoon Boats, the facility is outfitted to efficiently palletize and shrink-wrap ATVs and UTVs, enabling the shipment of most orders to stores or distributors within three days. The majority of the Company's inventory is directly imported from its manufacturer network to its Garland facility where they undergo assembly, accessorization, and inspection before shipment to a distributor or directly to the customer, except for its pontoon boats, which are wholly manufactured at the Garland facility.


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