Paul Mueller Company Announces New Facility Expansion at Its Headquarters

Rhea-AI Summary

Paul Mueller Company (OTC Pink: MUEL) has announced a $20 million expansion of its facilities at its Springfield, MO headquarters. The expansion is driven by record backlog growth over the past 24 months and strong financial performance. The new facility will add 100,000 square feet of space dedicated to production and enhancing research and development initiatives.

Construction is scheduled to begin in fall 2024 and complete in fall 2025. This investment in infrastructure aims to sustain the company's ongoing expansion. Paul Mueller Company, with operations in Iowa, The Netherlands, and Vietnam, builds innovative processing equipment for dairy farms, food and beverage, pharmaceutical, and chemical facilities worldwide.

Positive

• $20 million investment in facility expansion
• Record backlog growth over previous 24 months
• Strong financial performance
• Addition of 100,000 square feet of production space
• Enhancement of research and development capabilities

Negative

• None.

News Market Reaction

+40.00%

1 alert

+40.00% News Effect

On the day this news was published, MUEL gained 40.00%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SPRINGFIELD, Mo., July 26, 2024 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC Pink: MUEL) (the “Company”) announces a $20 million expansion of its facilities at its headquarters in Springfield, MO. 

Due to record backlog growth over the previous 24 months and strong financial performance, the Company is investing in infrastructure to sustain its ongoing expansion. Construction is expected to begin in the fall of 2024 and complete in the fall of 2025. The new facility will add 100,000 square feet of space dedicated to production and enhancing the Company’s research and development initiatives.

Paul Mueller Company, headquartered in Springfield, MO, has manufacturing and sales operations in Iowa, The Netherlands, and Vietnam. Paul Mueller Company employees build innovative processing equipment worldwide for dairy farms, food and beverage, pharmaceutical, and chemical facilities. http://www.paulmueller.com

Press Contact: Denise Silvey | Paul Mueller Company | Springfield, MO 65802 | (417) 575-9000

dsilvey@paulmueller.com | https://paulmueller.com

FAQ

What is the size of Paul Mueller Company's new facility expansion?

Paul Mueller Company's new facility expansion will add 100,000 square feet of space dedicated to production and enhancing research and development initiatives.

When is the construction of MUEL's new facility expected to begin and end?

Construction of Paul Mueller Company's new facility is expected to begin in the fall of 2024 and complete in the fall of 2025.

How much is Paul Mueller Company (MUEL) investing in its facility expansion?

Paul Mueller Company (MUEL) is investing $20 million in the expansion of its facilities at its headquarters in Springfield, MO.

What factors led to Paul Mueller Company's decision to expand its facilities?

Paul Mueller Company's decision to expand its facilities was driven by record backlog growth over the previous 24 months and strong financial performance.