- U.S. Manufacturing Capabilities to Support All COMSovereign Product Lines, Dramatically Cutting Production Times and Costs -
DALLAS, March 19, 2020 /PRNewswire/ -- COMSovereign Holding Corp. (OTCQB: COMS) ("COMSovereign" or the "Company"), a U.S.-based pure-play enabler of 5G connectivity and data transmission systems, today announced that following the purchase of all related manufacturing assets, operations and existing customer contracts of Fast Plastic Parts, it has launched Sovereign Plastics, its wholly-owned, domestic plastic and metal components manufacturing operation.
Based in Colorado Springs, Colorado, Sovereign Plastics occupies a 23,000-square-foot manufacturing facility that houses a full-production machine shop, a comprehensive line of state-of-the-art plastic injection molding machinery as well as light-assembly fulfillment and packaging lines serving customers 24x7. The facility now operates as the materiel, component manufacturing and supply chain source for all COMSovereign companies. Sovereign Plastics provides customers with rapid prototyping and mold-machining services, as well as high-volume production of plastic and metal components, such as protective cases, housings and mounting brackets used in a wide array of electronic components such as radio communications equipment, backup power supplies and batteries. Utilizing advanced systems designed for speed and cost efficiency, Sovereign Plastics has the ability to reduce molding times from the typical 120 days to five days, and to reduce product delivery from months to days as compared to production overseas in Asia. The operation employs over 30 highly-experienced technicians.
Dan Hodges, chairman and CEO of COMSovereign Holding Corp., stated, "With the launch of our in-house, U.S.-based component manufacturing facilities, we are now delivering on our 'Made in the USA' mission as a pure-play provider of communications system technology able to serve domestic and international 3G, 4G, 5G and nG carriers today. We believe Sovereign Plastics can deliver immediate 'just-in-time' supply chain value to all of our operating companies and is a competitive advantage because it eliminates the need for international manufacturing and large inventories, which is now a significant barrier for nearly all organizations that rely on overseas production and supply chains."
About COMSovereign Holding Corp.
COMSovereign Holding Corp. (OTCQB: COMS) has assembled a portfolio of communications technology companies with combined capabilities and the objective of enabling connectivity across the entire data transmission spectrum. Through strategic acquisitions and organic research and development efforts, COMSovereign is seeking to become a U.S.-based pure-play communications provider able to provide LTE Advanced and 5G-NR telecom solutions to network operators and enterprises worldwide. For more information about COMSovereign, please visit www.COMSovereign.com or view the reports that it files with or furnishes to the Securities and Exchange Commission (the "SEC") at www.sec.gov, including the Risk Factors included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2018, as well as information in its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, those relating to the Company's ability to reduce component molding and product delivery times and to develop and deliver advanced voice and data communications systems. The Company's forward-looking statements could be affected by many factors, including, but not limited to, the Company's ability to raise funds for working capital, demand for the Company's products and services, economic conditions in the U.S. and worldwide, and the Company's ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts:
Investor Relations for COMSovereign Holding Corp.:
Steve Gersten
813-334-9745
investors@comsovereign.com
and
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE COMSovereign Holding Corp.
