Mississauga, Aug. 17, 2021 — Worksport Ltd (Nasdaq-CM: WKSP; WKSPW) (the “Company”) is moving into a new location which will serve as its headquarters and Canadian manufacturing facility. The new 55,000 sq ft office and facility is located at 7299 East Danbro Crescent, Mississauga, Ontario L5N 6P8, Canada.
As the Company’s tonneau cover business continues to grow, the move will help the team to solidify its manufacturing process for pre-production of its TerraVis solar-powered tonneau cover and COR battery systems. The facility will not only host existing operating infrastructure, but also brings a valuable industry and networking resource – its landlord, a top executive at Matcor-Matsu, which is an established tier 1 OEM manufacturer with over 1.5 million square ft. across US, Canada and Mexico. Matcor has been an ally of the Company and has been pivotal for helping Worksport establish itself in Canada as a home-grown manufacturer.
Worksport believes it now has the physical foundation and network of partners to manage the next phase of its growth and development. The Company is only paying for square footage that it needs and will have all available onsite equipment at its disposal, including but not limited to integrated manufacturing tools required for faster prototyping.
Furthermore, at the new facility, Worksport will now be able to automate the cutting and sewing processes for its soft tonneau cover tarp. Being one of the biggest bottlenecks in soft cover manufacturing, this will allow faster upscaling of its soft cover business. Worksport will first be setting up its manufacturing operations with an Advance Bespoke sewing and Conveyor System from Wales, UK, that will feature world-leading digital technology from Juki and Panasonic which will integrate custom requirements for Worksport’s new sewing method. As skilled sewing labor is becoming increasingly difficult to find, automation of soft cover manufacturing will likely prove to be a valuable asset for the Company. Worksport will continue to update its shareholders on any further progress made setting up the new facility for full scale production as it becomes relevant.