{"id":472275,"date":"2021-04-06T17:18:31","date_gmt":"2021-04-06T21:18:31","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472275"},"modified":"2021-04-06T17:18:31","modified_gmt":"2021-04-06T21:18:31","slug":"mayville-engineering-company-inc-announces-new-strategic-customer-relationship","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mayville-engineering-company-inc-announces-new-strategic-customer-relationship\/","title":{"rendered":"Mayville Engineering Company, Inc. Announces New Strategic Customer Relationship"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Mayville Engineering Company, Inc. Announces New Strategic Customer Relationship <\/b><\/p>\n<p class=\"bwalignc\"><i>Expected to Become Top 10 Customer in 2022 Following 2021 Ramp Up Period <\/i><\/p>\n<p>MAYVILLE, Wis.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nMayville Engineering Company (NYSE: MEC) (the \u201cCompany\u201d or \u201cMEC\u201d), a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket services, today announced that it has entered into a long-term agreement with a leading U.S. based fitness company.\n<\/p>\n<p>\n\u201cWe are proud to be working with one of the most innovative pioneers in the world of fitness,\u201d stated Robert D. Kamphuis, Chairman, President and CEO. \u201cIt is gratifying that MEC\u2019s unique technical capabilities and unmatched dependability are being recognized with this agreement.\u201d\n<\/p>\n<p>\nThe Company has signed a long-term agreement to produce major key components for fitness equipment. Based on current plans and projections, the new customer is expected to become a top 10 customer by revenue in 2022. During 2021, the Company plans to invest between $35 and $45 million, primarily focused on automation and technology while qualifying processes, testing, and starting to ramp production in early 2022. Other financial terms of the agreement were not disclosed.\n<\/p>\n<p><b><span class=\"bwuline\">Forward Looking Statements<\/span><\/b><\/p>\n<p>\nThis press-release includes forward-looking statements that reflect plans, estimates and beliefs. Such statements involve risk and uncertainties. Actual results may differ materially from those contemplated by these forward-looking statements as a result of various factors. Important factors that could cause actual results or events to differ materially from those expressed in forward-looking statements include, but are not limited to: the negative impacts the coronavirus (COVID-19) have had and will continue to have on our business, financial condition, cash flows, results of operations and supply chain (including future uncertain impacts); failure to compete successfully in our markets; risks relating to developments in the industries in which our customers operate; our ability to maintain our manufacturing, engineering and technological expertise; the loss of any of our large customers or the loss of their respective market shares; risks related to scheduling production accurately and maximizing efficiency; our ability to realize net sales represented by our awarded business; our ability to successfully identify or integrate acquisitions; risks related to entering new markets; our ability to develop new and innovative processes and gain customer acceptance of such processes; our ability to recruit and retain our key executive officers, managers and trade-skilled personnel; risks related to our information technology systems and infrastructure; manufacturing risks, including delays and technical problems, issues with third-party suppliers, environmental risks and applicable statutory and regulatory requirements; political and economic developments, including foreign trade relations and associated tariffs; volatility in the prices or availability of raw materials critical to our business; results of legal disputes, including product liability, intellectual property infringement and other claims; risks associated with our capital-intensive industry; risks related to our treatment as an S Corporation prior to the consummation of our initial public offering; risks related to our employee stock ownership plan\u2019s treatment as a tax-qualified retirement plan; and other factors described in \u201cRisk Factors\u201d in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2020, as such may be amended or supplemented by subsequent Quarterly Reports on Form 10-Q or other reports filed with the Securities and Exchange Commission. This discussion should be read in conjunction with our audited consolidated financial statements included in the Company\u2019s previously filed Annual Report on Form 10-K for the year ended December 31, 2020. We undertake no obligation to update or revise any forward-looking statements after the date on which any such statement is made, whether as a result of new information, future events or otherwise, except as required by federal securities laws.\n<\/p>\n<p><b><span class=\"bwuline\">About Mayville Engineering Company<\/span><\/b><\/p>\n<p>\nFounded in 1945, MEC is a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket component. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicle, construction &amp; access equipment, powersports, agriculture, military and other end markets. Along with process engineering and development services, MEC maintains an extensive manufacturing infrastructure with 19 facilities across seven states. These facilities make it possible to offer conventional and CNC (computer numerical control) stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly and logistic services. MEC also possesses a broad range of finishing capabilities including shot blasting, e-coating, powder coating, wet spray and military grade chemical agent resistant coating (CARC) painting.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210406006035r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210406006035\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210406006035\/en\/<\/a><\/span><\/p>\n<p>\nINVESTOR CONTACT:<br \/>\n<br \/>Nathan Elwell<br \/>\n<br \/>847-530-0249<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:nelwell@lincolnchurchilladvisors.com\">nelwell@lincolnchurchilladvisors.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Wisconsin<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Packaging Engineering Health Aerospace Manufacturing Fitness &amp; Nutrition Other Manufacturing<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210406006035\/en\/807068\/3\/MEC_logo_pms185c.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Mayville Engineering Company, Inc. Announces New Strategic Customer Relationship Expected to Become Top 10 Customer in 2022 Following 2021 Ramp Up Period MAYVILLE, Wis.&#8211;(BUSINESS WIRE)&#8211; Mayville Engineering Company (NYSE: MEC) (the \u201cCompany\u201d or \u201cMEC\u201d), a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket services, today announced that it has entered into a long-term agreement with a leading U.S. based fitness company. \u201cWe are proud to be working with one of the most innovative pioneers in the world of fitness,\u201d stated Robert D. Kamphuis, Chairman, President and CEO. \u201cIt is gratifying that MEC\u2019s unique technical capabilities and unmatched dependability are being recognized with this agreement.\u201d The Company has signed &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mayville-engineering-company-inc-announces-new-strategic-customer-relationship\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mayville Engineering Company, Inc. Announces New Strategic Customer Relationship&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-472275","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mayville Engineering Company, Inc. Announces New Strategic Customer Relationship - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mayville-engineering-company-inc-announces-new-strategic-customer-relationship\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mayville Engineering Company, Inc. Announces New Strategic Customer Relationship - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Mayville Engineering Company, Inc. Announces New Strategic Customer Relationship Expected to Become Top 10 Customer in 2022 Following 2021 Ramp Up Period MAYVILLE, Wis.&#8211;(BUSINESS WIRE)&#8211; Mayville Engineering Company (NYSE: MEC) (the \u201cCompany\u201d or \u201cMEC\u201d), a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket services, today announced that it has entered into a long-term agreement with a leading U.S. based fitness company. \u201cWe are proud to be working with one of the most innovative pioneers in the world of fitness,\u201d stated Robert D. Kamphuis, Chairman, President and CEO. \u201cIt is gratifying that MEC\u2019s unique technical capabilities and unmatched dependability are being recognized with this agreement.\u201d The Company has signed &hellip; Continue reading &quot;Mayville Engineering Company, Inc. Announces New Strategic Customer Relationship&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/mayville-engineering-company-inc-announces-new-strategic-customer-relationship\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T21:18:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210406006035r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mayville-engineering-company-inc-announces-new-strategic-customer-relationship\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mayville-engineering-company-inc-announces-new-strategic-customer-relationship\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Mayville Engineering Company, Inc. 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