BYRN - Byrna technologies announces the formation of byrna LATAM and the opening of a new factory in argentina

• Byrna Technologies ( NASDAQ: BYRN ) has announced the formation of new subsidiary, Byrna LATAM, based in Montevideo, Uruguay.  Byrna LATAM will be responsible for the manufacture, sale, and distribution of Byrna products throughout Latin America.
• Byrna LATAM is a joint venture between Byrna and Fusady SA.
• Byrna LATAM was capitalized through an initial contribution of $4.1 million in equity and shareholder loans provided Byrna and Fusady SA.
• The Company has hired Maximiliano (Maxi) Garimaldi to be CEO of Byrna LATAM. Maxi is an engineer by training and has an MBA from Austral University in Buenos Aires.
• Bryan Ganz, CEO of Byrna, stated that "by establishing Byrna LATAM and manufacturing Byrna's line of less-lethal pistols and rifles inside the Mercosur free-trade Zone, Byrna believes that it can make significant inroads into the South American market for personal self-defense.
• Byrna provides these consumers with a safe, effective, reliable, and most importantly, legal option.  With the rising civil unrest in Central and South America, many civilians fear for their safety and the safety of their family members.  Byrna provides them with the ideal solution.
• Source: Press Release

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