Victory Marine Holdings (OTCPK.VMHG) announced today they have reached a tentative agreement to lease a 7,000 square foot manufacturing facility located in Miami, FL that will serve as the new location for Excalibur Trailers USA, Corp., a wholly owned subsidiary of Victory Marine Holdings. With this news, the company plans to be on schedule to begin manufacturing their own line of boat trailers by years end.
Orlando Hernandez, CEO of Victory Marine Holdings, stated, “This is exciting news for us and the entire company as we continue to make fast progress on our boat trailer manufacturing plans. Is good to note that 95% of power boats are less than 26 feet in length. Most of these boats are sold with a trailer and allow our company to expand into a market with very strong demand and a very high volume of sales.”
The company also continues to focus on its ambitions to begin manufacturing the Company’s own, unique line of boats. Mr. Hernandez further updated the market on progress in this area as well: “I just returned from the United Arab Emirates (UAE) where I attended the Abu Dhabi International Boat Show and met with several boat manufacturing companies. We are getting closer to completing an agreement that would enable us to manufacture overseas under strict supervision and quality control to satisfy the U.S. demand on new boat sales.”
The company stated that entering these two manufacturing markets will drastically increase both the overall revenue of the company as well as the profit margins as these products will be manufactured and sold by Victory Marine Holdings. Mr. Hernandez concluded, “These manufacturing facilities will create whole new profit centers for the company and truly enable the Company to be fully diversified within the boating sector to reach revenues from all spectrums of the market. These level of strength and diversity will earn us strong market share and significant profits.”