SARASOTA, Fla., May 16, 2017 (GLOBE NEWSWIRE) — Uniroyal Global Engineered Products, Inc.(OTCQB:UNIR), a leading global provider of vinyl-coated fabrics and soft trim technologies serving the automotive, recreational, industrial, contract, hospitality and healthcare markets, reports that it is currently implementing expansion plans and continued investment in the Asian market, beginning with a new sales, engineering and marketing office in Shanghai’s Financial District in Pudong. The office will provide sales, marketing technical and logistical support, as well as offer a hub of innovation for the research and development of new vinyl colors, patterns, and designs targeted towards the Asia-Pacific automotive market.
“China is a significant piece of Uniroyal Global’s growth strategy and this expansion reflects our commitment to investing in one of the largest and most dynamic markets in the world. Capitalizing on the successful integration of our acquisitions, Uniroyal is continuing to look forward to expanding our global footprint. Pudong is a natural fit for our office, as it is close to all of our major customers in the region. We expect the office to serve as an innovation center to enhance product offerings to the Asian market,” said Uniroyal CEO Howard R. Curd.
“With the Asia-Pacific market accounting for 50% of the global coated fabrics market, our presence in Shanghai positions us to showcase our world class design capabilities and expand our business in this growing market. In addition to our strong presence in the U.S. and Europe, the China office will enable us to broaden our global reach and pursue additional opportunities in the automotive and mass transportation markets,” added Mike Raines, EVP and Global Commercial Director.
About Uniroyal Global Engineered Products, Inc.:
Uniroyal Global Engineered Products, Inc. (Symbol:UNIR) is a leading global provider of vinyl-coated fabrics and soft trim technologies. Our companies in the U.S. and Europe utilize 500,000 square feet of manufacturing capacity and feature more than 400 employees dedicated to delivering outstanding products engineered for exceptional performance. Uniroyal Global’s coated fabrics and soft trim components are featured in many consumer and industrial applications including automotive seating and interior components, commercial and hospitality seating, medical equipment, healthcare facilities and athletic equipment primarily in North America and Europe. Among Uniroyal Global’s collection of innovative products are the renowned and industry-preferred brands, Naugahyde® and Ambla®. For more information on Uniroyal Global Engineered Products, Inc., please visit uniroyalglobal.com.
Except for statements of historical fact, certain information contained in this press release constitutes forward-looking statements, including, without limitation, statements containing the words “believe,” “expect,” “anticipate,” “intend, “should,” “planned,” “estimated” and “potential” and words of similar import, as well as all references to the future. These forward-looking statements are based on Uniroyal Global Engineered Products, Inc.’s current expectations. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company´s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company´s forward-looking statements. The risks and uncertainties which may affect the operations, performance, development and results of the Company´s business include, but are not limited to, the following: uncertainties relating to economic conditions, uncertainties relating to customer plans and commitments, the pricing and availability of equipment, materials and inventories, currency fluctuations, technological developments, performance issues with suppliers, economic growth, delays in testing of new products, the Company’s ability to successfully integrate acquired operations, the Company’s dependence on key personnel, the Company’s ability to protect its intellectual property rights, the effectiveness of cost-reduction plans, rapid technology changes and the highly competitive environment in which the Company operates. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.