LONGMONT, Colo., Dec. 4, 2013 /PRNewswire/ -- ARC Group Worldwide, Inc. (NASDAQ: ARCW; the "Company" or "ARC") announced today that Advanced Forming Technology, Inc. ("AFT"), a division of the Company's Precision Components Group, has begun expanding its operational capabilities at its Colorado location.
Commenting on the expansion, Mr. Jedidiah Rust, Director of Operations for AFT Colorado, said, "AFT continues to experience growth within our major market segments, demonstrating the quality of our products and services, and necessitating the need for additional capacity." AFT currently services five growth industries, including Automotive, Medical, Aerospace, Firearms, and Consumer. Mr. Rust further commented, "In order to continue to meet our customer's high demand, AFT has taken the initiative to increase output through infrastructure investment and lean manufacturing initiatives."
Expansion completed to date represents the first of several phases, with the planned expansion expected to be complete by December 2014.
Thomas K. Houck, Vice President of U.S. Metal Injection Molding Operations, stated, "This capital expansion and infrastructure upgrade will enable us to meet current demand and grow our business for the future. Our continued focus on operational excellence will provide the Company with the strengthened ability to expand volumes, provide additional value added processes to our customers and increase our 3D printing capabilities/services. These initiatives, combined with our expected growth, should position the Company for continued success with a diverse, captivated customer base, innovative technology solutions, and increased shareholder value."About ARC Group Worldwide, Inc. ARC Group Worldwide is a diversified, global manufacturing company, as well as the unequivocal world leader in Metal Injection Molding ("MIM"). ARC was founded in 1987 and has a long history as a technology innovator in manufacturing. ARC has significant expertise in lean manufacturing and utilizes cutting edge technology including robotics, automation, and 3D printing. ARC's mission is to bring innovation and technology to manufacturing. ARC's core manufacturing businesses are in precision components, flanges, fittings, and wireless technology, through its operating subsidiaries, www.FloMet.com, www.AFTmim.com, www.Injectamax.com, www.TeknaSeal.com, www.GeneralFlange.com and www.ArcWireless.net. For more information about ARC Group Worldwide, please visit www.ArcGroupWorldwide.com. IMPORTANT INFORMATION This press release may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995, which are based on ARC's current expectations, estimates and projections about future events. These include, but are not limited to, statements, if any, regarding business plans, pro-forma statements and financial projections, ARC's ability to expand its services and realize growth. These statements are not historical facts or guarantees of future performance, events or results. Such statements involve potential risks and uncertainties, and the general effects of financial, economic, and regulatory conditions affecting our industries. Accordingly, actual results may differ materially. ARC does not have any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For additional factors that may affect future results, please see filings made by ARC with the Securities and Exchange Commission ("SEC"), including its Form 10-K for the fiscal year ending June 30, 2013. CONTACT: Drew Kelley PHONE: (386) 736-4890 Email: InvestorRelations@ArcGroupWorldwide.com SOURCE ARC Group Worldwide, Inc.