MEC Named #1 Fabricator in U.S. For 13th Consecutive Year

Rhea-AI Summary

Mayville Engineering Company (MEC) has been named the largest domestic metal fabricator in the US for the thirteenth consecutive year by Fabricator Magazine. MEC attributes this achievement to its consistent commercial growth, operational excellence, and ability to drive innovation through customer collaboration. The company is investing in next-generation automation and quality assurance to further optimize its manufacturing base. MEC has allocated over $50 million in the past four years towards profitability-enhancing initiatives, including the launch of a state-of-the-art facility in Hazel Park, Michigan.

Positive

• MEC named largest domestic metal fabricator by Fabricator Magazine for the thirteenth consecutive year
• MEC has consistent track record of commercial growth and operational excellence
• MEC investing in next-generation automation and quality assurance to optimize manufacturing base
• MEC allocated over $50 million towards profitability-enhancing initiatives
• MEC launched state-of-the-art facility in Hazel Park, Michigan

Negative

• None.

MEC Named Largest Domestic Metal Fabricator by Fabricator Magazine

MAYVILLE, Wis.--(BUSINESS WIRE)-- Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced that the Company has been named as the nation’s largest fabricator by the Fabricator Magazine for the thirteenth consecutive year.

“We are honored to be named the #1 domestic fabricator for another consecutive year,” said Jag Reddy, President & CEO. “This recognition is a testament to our consistent track record of commercial growth, operational excellence and proven ability to drive innovation through close customer collaboration. With the recent launch of MEC Business Excellence, or MBX, our team is building a leading platform capable of serving emerging growth, higher-value adjacent markets, including light-weight materials fabrication, while continuing to leverage our established role as a leading tier-1 supplier to many of the world’s largest industrial OEMs.”

“We remain committed to investing in the processes, systems and technologies that leverage next-generation automation and quality assurance as we further optimize our domestic manufacturing base,” stated Ryan Raber, Executive Vice President of Strategy, Sales & Marketing. “During the last four years, we’ve allocated more than $50 million toward profitability-enhancing initiatives, investments that include our state-of-the-art facility in Hazel Park, Michigan, which launched earlier this year. Our end-to-end prototyping, design and manufacturing expertise, experience with complex, high-volume assemblies and strong financial position remain key areas of competitive differentiation that position us to drive long-term value creation for both our customers and shareholders.”

About Mayville Engineering Company

Founded in 1945, MEC is a leading U.S.-based, vertically integrated, value-added manufacturing partner providing a full suite of manufacturing solutions from concept to production. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicle, construction & access equipment, powersports, agriculture, military, and other end markets. Along with process engineering and development services, MEC maintains an extensive manufacturing infrastructure with 20 facilities, across seven states.

MEC produces metal components that are used in a broad range of heavy- and medium-duty commercial vehicles, construction, powersports, agricultural, military and other products. For more information, please visit www.mecinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230601005936/en/

MEDIA CONTACT:

Lisa Lahr 920-387-6051

lisa.lahr@mecinc.com

INVESTOR CONTACT:

Stefan Neely or Noel Ryan

(615) 844-6248

MEC@val-adv.com

Source: Mayville Engineering Company

FAQ

What is the significance of MEC being named the largest domestic metal fabricator?

MEC being named the largest domestic metal fabricator for the thirteenth consecutive year highlights its consistent growth and operational excellence.

What initiatives has MEC undertaken to enhance profitability?

MEC has allocated over $50 million towards profitability-enhancing initiatives, including the launch of a state-of-the-art facility in Hazel Park, Michigan.

What is MEC's approach to innovation?

MEC drives innovation through close customer collaboration and leverages its expertise in prototyping, design, and manufacturing.

What markets does MEC serve?

MEC serves diverse end markets and is expanding into higher-value adjacent markets, including light-weight materials fabrication.

What is MEC's financial position?

MEC has a strong financial position and aims to create long-term value for both customers and shareholders.