ATWT - ATWEC Technologies acquires Assembled Products for $2.6M

ATWEC Technologies (ATWT) acquired its manufacturer, Assembled Products for $2.6M in cash and stock.Assembled Products has been the proprietary manufacturer of ATWEC's child safety systems, including the KV-4 Child Reminder System with RFID technology deactivation, and the new KV-X vehicle sterilization system, for the past 30 years."Acquiring Assembled Products allows us to keep costs down and scale more quickly. Plus, by expanding into manufacturing, we can diversify the range of our offerings," president & CEO Darnell Stitts commented.In 2019, Assembled Products reported gross sales of ~$1M.Post the deal, ATWEC will save ~75%of its production costs, which will increase margins by ~75%.

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ATWEC Technologies acquires Assembled Products for $2.6M