Brief: Volcon Implements Comprehensive Program To Improve Profitability

Empery Digital

25/08/2022 21:33

Aug 25 (Reuters) - Volcon Inc  VLCN.O :
    * VOLCON IMPLEMENTS COMPREHENSIVE PROGRAM TO IMPROVE
PROFITABILITY/CASH FLOW
    * VOLCON INC - WILL CLOSE ITS MANUFACTURING OPERATIONS IN
ROUND
ROCK, TEXAS
    * VOLCON INC - TO IMPROVE PRODUCT MARGINS, COMPANY HAS
ENTERED
INTO A CONTRACT MANUFACTURING AGREEMENT WITH GLV VENTURES
    * VOLCON INC - SEEKING TO REDUCE ITS RELIANCE ON PARTS AND
COMPONENTS SOURCED FROM CHINA
    * VOLCON INC - LOOK TO CONSOLIDATE ITS SUPPLY CHAIN TO
COUNTRIES
FRIENDLY TO US MANUFACTURERS, ESPECIALLY THOSE LOCATED IN NORTH
AMERICA
    * VOLCON INC - MADE DECISION TO REDUCE SIZE OF VOLCON TEAM
    * VOLCON INC - PLANS TO LOOK AT ADDITIONAL OPPORTUNITIES TO
UTILIZE THIRD PARTY MANUFACTURERS

Source text for Eikon:  ID:nGNX4bdDL8 
Further company coverage:  VLCN.O