EXCLUSIVE: Truck Cover Player Worksport Signs Long Term Pact With US Customer, Expects $16M Annual Sales
Portfolio Pulse from Vandana Singh
Worksport Ltd (NASDAQ:WKSP) has signed a long-term supply agreement with an undisclosed US automotive aftermarket reseller. The company, which manufactures tonneau covers for light trucks, expects to earn an estimated $16 million in annual sales from this deal. Worksport has recently started manufacturing at its Western New York-based facility after receiving orders worth $2.32 million from the same customer. The company plans to enhance its manufacturing capacities by incorporating robotics and automation.
September 19, 2023 | 11:01 am
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Worksport's long-term supply agreement with a US customer and plans to enhance manufacturing capacities could positively impact its revenues and stock price.
The long-term supply agreement with a US customer is expected to bring in $16 million in annual sales, which will significantly boost Worksport's revenues. Additionally, the company's plans to enhance its manufacturing capacities by incorporating robotics and automation could lead to increased efficiency and production, potentially leading to further revenue growth and a positive impact on the stock price.
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