Bohemia, NY and Hauppauge, Long Island, NY, Oct. 29, 2021 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite and 5G communications networks, defense, space, and other commercial applications, today announced plans to relocate its existing manufacturing locations and headquarters into a new, expanded 20,000 square-foot facility on Long Island. AmpliTech has leased the facility, located at 155 Plant Avenue, Hauppauge, NY, for an initial 7-year term.
The new facility substantially expands AmpliTech’s existing 13,100 square foot footprint and combines, for the first time, the Company’s design, engineering and sales and marketing teams under one roof, enabling greater collaboration, operational efficiency along with significant room for growth. This new facility will incorporate a state-of-the-art enhanced class 10K clean room to support production of the Company’s space-grade products. AmpliTech expects to be fully operational at the new manufacturing and headquarters facility in the first quarter of 2022.
Fawad Maqbool, CEO, commented, “It has been our goal to consolidate our two Long Island locations into a new and enhanced, purpose-driven facility built around our needs. There, we expect to benefit from an enhanced customer experience, greater collaboration across our business units and improved economies of scale, while also providing an expanded footprint for both internal and external growth. The near-term completion of this effort represents another important step in our vision to expand AmpliTech’s growth potential and capabilities.”
The Hauppauge facility combines existing R&D, engineering, and manufacturing operations for the Company’s industry-leading low-noise radio signal amplifier (LNAs) product line, along with AmpliTech’s management and administration, currently based in Bohemia, NY, Specialty Microwave division in Ronkonkoma, NY-based team and Satcom product manufacturing and assembly operations. Specialty Microwave was acquired by AmpliTech in September 2019.
About AmpliTech Group, Inc. (www.AmpliTechinc.com)
AmpliTech Group, Inc. designs, develops, and manufactures state-of-the-art radio frequency (RF) components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of the unique skills, experience and dedication of our focused team which enables us to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors, or its officers with respect to, among other things: (i) the Company's ability to execute its business plan as anticipated; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, all of which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law.
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Company Contact:
Shan Sawant, Director of Communications
AmpliTech Group, Inc.
shan@amplitech.com
646-546-7128
Investor Contact
David Collins or William Jones
Catalyst IR
ampg@catalyst-ir.com
212-924-9800
