INNO Holdings Announces Transformative Factory Expansion and Automation Initiative to Catalyze Market Leadership in the Cold-Formed Steel Framing Industry
BROOKSHIRE, TX / ACCESSWIRE / March 6, 2024 / INNO Holdings (NASDAQ:INHD), a leader in the cold-formed steel framing industry, announce today a significant expansion of its manufacturing operations and a comprehensive enhancement of its automation infrastructure. This initiative represents a strategic move that augments production capacity and heightens efficiency, positioning INNO Holdings to capitalize on significant market opportunities within the burgeoning global construction materials sector. Amidst a landscape where the global market opportunity for light-gauge steel framing, offsite construction, and prefab home manufacturing is estimated at a staggering $270 billion-comprising $33 billion for global light-gauge steel framing, $130 billion for global offsite construction, and $106 billion for global prefab home manufacturing-INNO Holdings' expansion and modernization efforts are designed to address the rising demand within these segments.
The expansion will add 3,500 square feet to the Company's existing facility footprint, facilitating the integration of advanced robotic arms and leading-edge automation technologies. This leap forward underscores INNO Holdings' unwavering commitment to spearheading manufacturing innovation, driving quality production, and maintaining competitive agility in the international arena.
The automation overhaul is anticipated to achieve a 30% reduction in manual labor, supporting the Company's strategic focus on technology leverage for operational efficiency and its dedication to enhancing employee well-being by transitioning human capital towards more skilled, less hazardous roles.
"Our investment in factory expansion and automation upgrades mark a significant milestone in our journey towards becoming a more agile and innovative company," said Dekui Liu, CEO of INNO Holdings. "These enhancements will bolster our production capabilities and allow us to meet the growing demands of our customers with greater speed and precision."
The factory expansion and automation project commenced in February 2024 and is slated for completion by September 2024. This initiative is part of INNO Holdings' long-term strategy to invest in technology and infrastructure that foster sustainable growth and elevate customer satisfaction.
INNO Holdings remains committed to its role as a responsible corporate citizen, ensuring that all expansion and automation initiatives are conducted with stringent adherence to environmental standards and yield a net-positive impact on the community.
For more information about INNO Holdings and its future projects, please visit www.innoholdings.com.
About Inno Holdings Inc.
Inno is an innovative building-technology company with a mission to transform the construction industry with our proprietary cold-formed steel-framing technology and other innovations. We are a manufacturer of cold-formed-steel members and prefabricated homes. We offer a full range of services required to transform raw materials into precise steel framing products and prefabricated homes. We sell these finished products either to businesses or directly to customers. The finished products and cold-formed-steel members are used in a variety of building types, including residential, commercial, industrial and infrastructure. We hope to transform the construction industry by having our proprietary cold-formed steel-framing technology replace wooden and traditional steel structures.
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
