SCOTTSDALE, Ariz., Feb. 02, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to report that it is has restarted its improved .50 caliber manufacturing line to address increased market demand and fulfill current orders.
AMMO’s state of the art .50 cal line operates out of the Company’s Jagemann Munition Components (“JMC”) plant located in Manitowoc, Wisconsin. Following the March 2019 acquisition of JMC, AMMO integrated its brass casing manufacturing operations and initiated the planned standing up of military lines within the plant. The work was undertaken to improve upon JMC’s .50 cal machinery, which has brought the Company to today. The .50 cal is a devastating long distance round relied upon by military units around the globe for approximately 100 years. Increasing indications of export interest from abroad and the development of orders ensured the enhancement of this critical military line was moved front and center as the world learned anew how to manage international business in a post-COVID environment. inception
“2021 has started off to be a great year for AMMO, but we continue to research the market and expand upon our capabilities in ways to maintain our record-setting momentum. Our .50 cal manufacturing capacity allows us to answer the mail for our international channel partners with a critically needed military product.,” said Fred Wagenhals, AMMO’s Chairman & CEO. Mr. Wagenhals further explained that “we can produce 1 million rounds today - and with limited investment, we can expand monthly production to 2.5 million rounds. The anticipated minimum annual revenue is approximately $40,000,000 at current production levels. And at full production, our .50 cal line is capable of generating in excess $80,000,000 in annual revenue.” Mr. Wagenhals closed by noting that “it was both prudent and strategic for AMMO to expend the money and engineering resources to bring our redesigned and enhanced .50 cal presses online as we fully expect it will facilitate our securing international military sales, while increasing our top and bottom revenue lines.”
About AMMO, Inc.
With its corporate offices headquartered in Scottsdale, Arizona. AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes branded munitions as well as its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and armor piercing rounds for military use. For more information please visit: www.ammo-inc.com.
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Investor Contact:
Rob Wiley, CFO
AMMO, Inc.
Phone: (480) 947-0001
IR@ammo-inc.com