Atlantic International Corp. Secures Multi-Million Dollar Manufacturing Contract with National Expansion Opportunity
Rhea-AI Summary
Atlantic International Corp. (NASDAQ: ATLN) has announced that its subsidiary Lyneer Staffing Solutions has secured a significant contract with a major central Pennsylvania food manufacturer. The initial contract is valued at $2 million in annual spending, with potential national expansion opportunities that could generate an additional $20+ million in revenue over the next 12-24 months.
The agreement establishes Lyneer as a key workforce solutions provider for the manufacturer's Pennsylvania operations, with possibilities to extend services to additional facilities across the United States. The contract, which began in January 2025, will focus on providing temporary workforce services, with national expansion discussions aimed at delivering scalable, cost-effective staffing solutions throughout the year.
Positive
- Secured new contract worth $2 million in annual revenue
- Potential additional revenue of $20+ million through national expansion over 12-24 months
- Strategic positioning for nationwide growth opportunities
Negative
- None.
News Market Reaction
On the day this news was published, ATLN gained 2.68%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
ENGLEWOOD CLIFFS, N.J., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Atlantic International Corp. (“Atlantic”) (Nasdaq: ATLN), a leading provider of strategic staffing, outsourced services and workforce solutions, today announced that its subsidiary Lyneer Staffing Solutions (“Lyneer”) has been awarded a significant contract to provide temporary workforce services to a prominent central Pennsylvania food manufacturer. The initial contract, valued at
The agreement positions Lyneer as a key workforce solutions provider for the manufacturer's Pennsylvania operations, with opportunities to expand services to additional facilities across the United States.
"This contract represents a major milestone for Lyneer and validates our commitment to delivering exceptional workforce solutions," said Todd McNulty, CEO of Lyneer. "Our proven track record in the food manufacturing sector, combined with our robust national infrastructure, makes us uniquely qualified to support our client's current needs while positioning us for significant growth as we expand our partnership nationwide."
Jeffrey Jagid, CEO of Atlantic International Corp., added, "This contract win demonstrates the strategic value of Lyneer within the Atlantic International portfolio. The potential for national expansion aligns perfectly with our growth objectives and reinforces our position as a leader in the staffing industry."
The partnership will enhance the manufacturer's operational efficiency while leveraging Lyneer's industry expertise, robust recruitment network, and customized workforce strategies. The national expansion discussions will focus on delivering additional value through scalable, cost-effective staffing solutions.
The contract commenced in January 2025, with national expansion opportunities expected to be implemented throughout the year.
About Atlantic International Corp.
Atlantic International Corp. (“Atlantic”) (Nasdaq: ATLN) 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 provides its customers with complete HR solutions, operating 40 independent on-site and vendor-on-premises facilities and paying over 12,000 employees weekly. According to Staffing Industry Analysts, Atlantic is among the top 20 largest national staffing companies servicing the light industrial, commercial, professional, finance, direct placement, and managed service provider verticals. 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
Atlantic IR
kfein@atlantic-international.com
FAQ
What is the value of ATLN's new manufacturing contract announced in January 2025?
When will ATLN's new manufacturing contract begin implementation?
What is the potential revenue impact of ATLN's national expansion plans?
Which subsidiary of ATLN secured the new manufacturing contract?
