Benzinga | Nov 30, 2021 05:04PM EST

Key Tronic Corporation Awarded New Contract With One Of The World's Leading Power Equipment Companies; No Finacial Terms Disclosed

Key Tronic Corporation (NASDAQ:KTCC), a provider of manufacturing and design engineering services, today announced that it expects to begin manufacturing in 2022 for one of the world's leading power equipment companies.

Key Tronic has been awarded the manufacturing, as well as the next generation design of an industry leading, innovative power equipment product. Initial production is expected to ramp in 2022 at the Key Tronic manufacturing campus in Juarez, Mexico. Once fully ramped, annual revenue could approach $80 million dollars.

"We are looking forward to the design and manufacturing expertise of Key Tronic to help accelerate introduction of new products, as well as enhance our ability to increase product availability to fulfill the anticipated overwhelming demand," said the CEO of Key Tronic's new customer.

"We are very excited to be working with a recognized leader in the power equipment industry," said Craig Gates, President and CEO of Key Tronic. "Our new customer is a well-known and a highly respected company. This important new strategic relationship represents an expansion of our customer base and should contribute to profitable long term growth."