HILLIARD, Ohio--(BUSINESS WIRE)--
Advanced Drainage Systems, Inc. (“ADS”) (NYSE:WMS), a leading global
manufacturer of water management solutions, today hosted community
leaders, elected officials and prospective employees at the site of its
in-construction new manufacturing facility in Harrisonville, Missouri.
This will be the Company’s 62nd manufacturing plant, and its
first in Missouri.
The event featured remarks from ADS CEO Joe Chlapaty, U.S. Rep. Vicky
Hartzler (R-MO), State Senator Ed Emery (R-Lamar), and Mayor Brian Hasek
of Harrisonville.
The new 72,650 square-foot manufacturing facility is expected to open in
the first half of 2017, bringing new employment opportunities to the
region. This plant represents a significant capital investment for ADS,
whose growth is a result of favorable policies enacted by the Missouri
Department of Transportation (MoDOT). In 2011, and again in 2014, MoDOT
updated its standards specification to allow plastic pipe to be used in
statewide infrastructure projects for storm water management. The
alternative pipe policies enable engineer choice among technically
equivalent options and reduce project costs.
“MoDOT’s policy improvements contributed significantly to ADS’ decision
to invest in Missouri. We are delighted to join the community of
committed Harrisonville advocates, and welcomed the participation in
today’s event by Representative Hartzler, Senator Emery, Mayor Hasek and
many community advocates and leaders,” said Joe Chlapaty, President and
Chief Executive Officer, ADS. “This facility will help meet growing
demand for our water management solutions, and we are excited about our
increasing contributions to the state of Missouri and this wonderful
community.”
“Job creation is at the heart of America's economic recovery, and I am
extremely pleased to welcome Advanced Drainage Systems (ADS) to
Missouri's Fourth District,” said Congresswoman Vicky Hartzler (MO-4).
“As a small business owner, I share the excitement of ADS as it embarks
on this expansion that will bring new employment opportunities to
citizens of Harrisonville and Cass County. I congratulate ADS and look
forward to this global manufacturer opening its Harrisonville operation
and launching production in the new year.”
The Company intends to employ approximately 50 people at this facility
when fully staffed, and will hire locally for employment opportunities
in management, machine operation, and transportation, among others.
The demand for ADS products has grown significantly, including revenue
growth of 50% from 2011, the year MoDOT updated their specifications.
Enabling specifier choice has contributed to this growth, and could be
replicated across the country with similar policy advances.
About ADS
Advanced Drainage Systems (ADS) is the leading manufacturer of high
performance thermoplastic corrugated pipe, providing a comprehensive
suite of water management products and superior drainage solutions for
use in the construction and infrastructure marketplace. Its innovative
products are used across a broad range of end markets and applications,
including non-residential, residential, agriculture and infrastructure
applications. The Company has established a leading position in many of
these end markets by leveraging its national sales and distribution
platform, its overall product breadth and scale and its manufacturing
excellence. Founded in 1966, the Company operates a global network of 61
manufacturing plants and 31 distribution centers. To learn more about
the ADS, please visit the Company’s website at www.ads-pipe.com.
Forward Looking Statements
Certain statements in this press release may be deemed to be
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Such statements include, but are not
limited to, statements regarding the anticipated timing of opening the
Company’s new manufacturing facility as well as statements regarding the
Company’s current business outlook. These statements are not historical
facts but rather are based on the Company’s current expectations,
estimates and projections regarding the Company’s business, operations
and other factors relating thereto. Words such as “may,” “will,”
“could,” “would,” “should,” “anticipate,” “predict,” “potential,”
“continue,” “expects,” “intends,” “plans,” “projects,” “believes,”
“estimates,” “confident” and similar expressions are used to identify
these forward-looking statements. Factors that could cause actual
results to differ from those reflected in forward-looking statements
relating to our operations and business include: fluctuations in the
price and availability of resins and other raw materials and our ability
to pass any increased costs of raw materials on to our customers in a
timely manner; volatility in general business and economic conditions in
the markets in which we operate, including, without limitation, factors
relating to availability of credit, interest rates, fluctuations in
capital and business and consumer confidence; cyclicality and
seasonality of the non-residential and residential construction markets
and infrastructure spending; the risks of increasing competition in our
existing and future markets, including competition from both
manufacturers of high performance thermoplastic corrugated pipe and
manufacturers of products using alternative materials; our ability to
continue to convert current demand for concrete, steel and PVC pipe
products into demand for our high performance thermoplastic corrugated
pipe and Allied Products; the effect of weather or seasonality; the loss
of any of our significant customers; the risks of doing business
internationally; the risks of conducting a portion of our operations
through joint ventures; our ability to expand into new geographic or
product markets; our ability to achieve the acquisition component of our
growth strategy; the risk associated with manufacturing processes; our
ability to manage our assets; the risks associated with our product
warranties; our ability to manage our supply purchasing and customer
credit policies; the risks associated with our self-insured programs;
our ability to control labor costs and to attract, train and retain
highly-qualified employees and key personnel; our ability to protect our
intellectual property rights; changes in laws and regulations, including
environmental laws and regulations; our ability to project product mix;
the risks associated with our current levels of indebtedness; our
ability to meet future capital requirements and fund our liquidity
needs; the risk that additional information may arise that would require
the Company to make additional adjustments or revisions or to restate
further the financial statements and other financial data for certain
prior periods and any future periods, any further delay in the filing of
any filings with the SEC; the review of potential weaknesses or
deficiencies in the Company’s disclosure controls and procedures, and
discovering further weaknesses of which we are not currently aware or
which have not been detected; additional uncertainties related to
accounting issues generally and other risks and uncertainties described
in the Company’s filings with the Securities and Exchange Commission.
New risks and uncertainties emerge from time to time and it is not
possible for the Company to predict all risks and uncertainties that
could have an impact on the forward-looking statements contained in this
press release. In light of the significant uncertainties inherent in the
forward-looking information included herein, the inclusion of such
information should not be regarded as a representation by the Company or
any other person that the Company’s expectations, objectives or plans
will be achieved in the timeframe anticipated or at all. Investors are
cautioned not to place undue reliance on the Company’s forward-looking
statements and the Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161004006223/en/
Media Contacts:
Greg Bohn, 614-658-0050
Director of
National Engineering
Greg.Bohn@ads-pipe.com
or
FTI
Consulting
Gabby Tarbert, 410-652-1304
Gabby.Tarbert@fticonsulting.com
or
Michael
Higgins, 614-658-0050
Director of Investor Relations & Business
Strategy
Mike.Higgins@ads-pipe.com
Source: Advanced Drainage Systems, Inc.