Advanced Drainage Systems Hosts Ceremonial Event to Mark Construction of New Harrisonville Missouri Manufacturing Facility
HILLIARD, Ohio – Advanced Drainage Systems, Inc. (“ADS”) (NYSE:WMS), a leading global manufacturer of water management solutions, today hosted community leaders, elected officials and prospective employees at the site of its in-construction new manufacturing facility in Harrisonville, Missouri. This will be the Company’s 62nd manufacturing plant, and its first in Missouri.
The event featured remarks from ADS CEO Joe Chlapaty, U.S. Rep. Vicky Hartzler (R-MO), State Senator Ed Emery (R-Lamar), and Mayor Brian Hasek of Harrisonville.
The new 72,650 square-foot manufacturing facility is expected to open in the first half of 2017, bringing new employment opportunities to the region. This plant represents a significant capital investment for ADS, whose growth is a result of favorable policies enacted by the Missouri Department of Transportation (MoDOT). In 2011, and again in 2014, MoDOT updated its standards specification to allow plastic pipe to be used in statewide infrastructure projects for storm water management. The alternative pipe policies enable engineer choice among technically equivalent options and reduce project costs.
“MoDOT’s policy improvements contributed significantly to ADS’ decision to invest in Missouri. We are delighted to join the community of committed Harrisonville advocates, and welcomed the participation in today’s event by Representative Hartzler, Senator Emery, Mayor Hasek and many community advocates and leaders,” said Joe Chlapaty, President and Chief Executive Officer, ADS. “This facility will help meet growing demand for our water management solutions, and we are excited about our increasing contributions to the state of Missouri and this wonderful community.”
“Job creation is at the heart of America’s economic recovery, and I am extremely pleased to welcome Advanced Drainage Systems (ADS) to Missouri’s Fourth District,” said Congresswoman Vicky Hartzler (MO-4). “As a small business owner, I share the excitement of ADS as it embarks on this expansion that will bring new employment opportunities to citizens of Harrisonville and Cass County. I congratulate ADS and look forward to this global manufacturer opening its Harrisonville operation and launching production in the new year.”
The Company intends to employ approximately 50 people at this facility when fully staffed, and will hire locally for employment opportunities in management, machine operation, and transportation, among others.
The demand for ADS products has grown significantly, including revenue growth of 50% from 2011, the year MoDOT updated their specifications. Enabling specifier choice has contributed to this growth, and could be replicated across the country with similar policy advances.
Advanced Drainage Systems (ADS) is the leading manufacturer of high performance thermoplastic corrugated pipe, providing a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. Its innovative products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. The Company has established a leading position in many of these end markets by leveraging its national sales and distribution platform, its overall product breadth and scale and its manufacturing excellence. Founded in 1966, the Company operates a global network of 61 manufacturing plants and 31 distribution centers. To learn more about the ADS, please visit the Company’s website at www.ads-pipe.com.
Forward Looking Statements
Certain statements in this press release may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, but are not limited to, statements regarding the anticipated timing of opening the Company’s new manufacturing facility as well as statements regarding the Company’s current business outlook. These statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections regarding the Company’s business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “confident” and similar expressions are used to identify these forward-looking statements. Factors that could cause actual results to differ from those reflected in forward-looking statements relating to our operations and business include: fluctuations in the price and availability of resins and other raw materials and our ability to pass any increased costs of raw materials on to our customers in a timely manner; volatility in general business and economic conditions in the markets in which we operate, including, without limitation, factors relating to availability of credit, interest rates, fluctuations in capital and business and consumer confidence; cyclicality and seasonality of the non-residential and residential construction markets and infrastructure spending; the risks of increasing competition in our existing and future markets, including competition from both manufacturers of high performance thermoplastic corrugated pipe and manufacturers of products using alternative materials; our ability to continue to convert current demand for concrete, steel and PVC pipe products into demand for our high performance thermoplastic corrugated pipe and Allied Products; the effect of weather or seasonality; the loss of any of our significant customers; the risks of doing business internationally; the risks of conducting a portion of our operations through joint ventures; our ability to expand into new geographic or product markets; our ability to achieve the acquisition component of our growth strategy; the risk associated with manufacturing processes; our ability to manage our assets; the risks associated with our product warranties; our ability to manage our supply purchasing and customer credit policies; the risks associated with our self-insured programs; our ability to control labor costs and to attract, train and retain highly-qualified employees and key personnel; our ability to protect our intellectual property rights; changes in laws and regulations, including environmental laws and regulations; our ability to project product mix; the risks associated with our current levels of indebtedness; our ability to meet future capital requirements and fund our liquidity needs; the risk that additional information may arise that would require the Company to make additional adjustments or revisions or to restate further the financial statements and other financial data for certain prior periods and any future periods, any further delay in the filing of any filings with the SEC; the review of potential weaknesses or deficiencies in the Company’s disclosure controls and procedures, and discovering further weaknesses of which we are not currently aware or which have not been detected; additional uncertainties related to accounting issues generally and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. New risks and uncertainties emerge from time to time and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the Company’s expectations, objectives or plans will be achieved in the timeframe anticipated or at all. Investors are cautioned not to place undue reliance on the Company’s forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.