This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

WSI Industries Announces Major Plant Expansion

WSI Industries, Inc. (Nasdaq: WSCI) today announced a major expansion to their Monticello, MN facility due to continued strong demand for their contract manufacturing services and to accommodate for future business growth. The planned 47,000 square foot expansion will double the existing manufacturing space with construction beginning in August 2012. They anticipate the expansion to be completed and available for utilization near the beginning of the 2013 calendar year. Funding for the expansion will be from available cash and debt. They anticipate that the construction work will have a minimal impact on their current manufacturing processes.

Benjamin Rashleger, president and chief executive officer, commented: “This past quarter we announced we that we had achieved a decade high sales level, exceeding the previous year’s quarter by 45%. Over the past three fiscal years, WSI has experienced increasing sales with growth from $18.8M in fiscal 2010, to $25.0M in fiscal 2011, to our current fiscal year, which ends on August 26 th, 2012, where we expect to continue the growth and exceed $31.0M in sales. At the same time, we have increased our headcount from 54 employees in 2009 to our current headcount of 91 employees.” Rashleger continued: “With the success we’ve had in diversifying our business with new customers and markets, as well as our current customers’ increasing demands, we have begun to stretch the capacity of our current facility, and are in need of additional manufacturing space. This building addition will double our manufacturing space and capacity, and give us substantial room for continued growth of our business – with both our current and new customers. This expansion illustrates the confidence we have in our current customers and their future success, as well as our ability to continue to attract and obtain new business in the contract manufacturing market. We believe the additional space provided by the expansion will provide us the opportunity to also expand the capabilities and services we can offer to our customers, in addition to the added capacity, which will also help to drive the expansion of the business by attracting new customers and programs.”

WSI Industries, Inc. is a leading contract manufacturer that specializes in the machining of complex, high-precision parts for a wide range of industries, including avionics and aerospace, energy, recreational vehicles, small engines, marine, bioscience and the defense markets.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs