Atlantic International Corp. Secures Major Contract with Global Home Goods Distributor
Rhea-AI Summary
Atlantic International Corp. (OTC: ATLN) has announced that its subsidiary Lyneer Staffing Solutions has secured a major staffing contract with a leading international home goods distributor. The partnership will initially provide flexible workforce solutions for one of the distributor's major U.S. distribution hubs, creating up to 150 new job opportunities. The contract, starting December 2024, is expected to generate revenue of up to $15.0 million annually, with potential expansion to additional locations based on performance.
Positive
- Secured new contract worth up to $15 million in annual revenue
- Creation of 150 new job opportunities
- Potential for expansion to additional locations
Negative
- None.
News Market Reaction
On the day this news was published, ATLN gained 0.39%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Expected Revenue of Up to
ENGLEWOOD CLIFFS, N.J., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Atlantic International Corp. (“Atlantic”) (OTC: ATLN), a leading provider of strategic staffing outsourced services and workforce solutions, today announced its subsidiary Lyneer Staffing Solutions has been awarded a significant staffing contract with a leading international distributor of home goods. This global innovator specializes in designing and marketing a comprehensive range of household essentials, with a portfolio of well-known brands and a presence in major retailers worldwide.
The partnership will initially focus on staffing flexible workforce solutions for one of the distributor's major U.S. distribution hubs, creating up to 150 new job opportunities. Based on performance, the collaboration could expand to additional locations, with total expected revenue of up to
“This contract represents a significant milestone for Lyneer Staffing Solutions and demonstrates our expertise in providing comprehensive workforce solutions to industry leaders,” said Todd McNulty, CEO of Lyneer Staffing Solutions. “Our proven track record of delivering reliable staffing services aligns perfectly with our client's commitment to operational excellence.”
Atlantic’s CEO, Jeffrey Jagid, emphasized the partnership's strategic importance: “This new partnership exemplifies our strategic growth initiatives and reinforces our commitment to expanding our presence in key markets. The potential for expansion across additional locations presents exciting opportunities for both organizations and demonstrates the value of our service offering.”
The agreement reinforces Lyneer's position as a trusted partner in the staffing industry and underscores the company's ability to deliver scalable workforce solutions for dynamic, high-growth organizations. Implementation of the new staffing contract is scheduled to begin in December 2024.
About Atlantic International Corp.
Atlantic International Corp. (“Atlantic”) is a leading strategic staffing, outsourced services, and workforce solutions company executing a high-growth strategy. Through its principal operating subsidiary, Lyneer Investments LLC (“Lyneer”), Atlantic’s approximately 300 employees generated over
For more information about Atlantic International Corp., please visit www.atlantic-international.com.
For more information about Lyneer Staffing Solutions please visit www.lyneer.com.
Forward-Looking Statements & Safe Harbor Statement
With the exception of the historical information contained in this press release, the matters described herein, may contain “forward-looking statements” relating to the business of Atlantic, and its subsidiary company Lyneer. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Relations Contact
Kale Fein
kfein@atlantic-international.com
+1 (213) 915-6414
FAQ
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