Ammo Incorporated’s Manitowoc location is expanding.
The ammunition maker announced that it has acquired a tooling manufacturer that provides key resources for ammunition production.
The Company expects that this acquisition will result in both streamlined operation of the factory and annualized cost savings of over $1 million.
CEO Jared Smith says, “This acquisition was an essential step towards streamlining our plant operations by insourcing over 90% of our tooling manufacturing.
We believe it will provide significant benefit as we continue to optimize the plant’s management.”
He also says the company will benefit, have considerable cost savings, and strengthen their strategic position. Ammo didn’t specifically say what company they are acquiring.