OPTEC International Stock Surges After Expanding Production Capability
Among the many stocks that rallied on Wednesday, Optec International Inc (OTCMKTS:OPTI) was one of those. The stock rallied by as much as 22% after the company made a major announcement with regards to its production capabilities.
New 22,000 Sq. Ft Manufacturing and Distribution Facility
The company announced on Wednesday that it finally got possession of manufacturing, production, and distribution facility close to the company’s headquarters that spans over an area of 22000 square feet. The new facility is going to further boost OPTEC International’s production capabilities with regards to its product lines in the solar lighting and UV-C spaces. The company expects the facility in question to be completely operational by the end of this month.
At this point in time, OPTEC is engaged in hiring additional personnel in order to help with the growth targets. The company’s Chief Executive Officer stated that the demand for its UV-C offerings like iWand and Rover had pushed the company to go for increased production of those products.
The sales from the online stores have been encouraging, but it is the demand for corporate clients that is being described as ‘huge’ by the company. On top of that, OPTEC is also in discussions with school districts as well as municipalities that are looking to procure the products that are being offered by the company.
This is a major milestone for the company, and the optimism in the markets about its stock is understandable. It remains to be seen if the OPTEC stock can continue to add to its gains for the rest of the week. Investors need to keep an eye on the developments around the company to have a better idea of the situation. The company has also launched some interesting products in recent times, and one of those is the UVC lines of commercial disinfecting and sanitization products back on June 12.
OPTEC has become an important player in the commercial UVC-LED market with its personal disinfection and sterilization germicidal scanner known as iWand. The product in question is widely used in the Californian region as personal use protection equipment (PPE), and that has led to a higher demand for the commercial versions of the product. The other product in the same category is Rover. The distribution and purchase of both these products had been made available by the company in June.
Later on, in June, the company made another major announcement with regards to an appointment to its board. David Ojeda, who had previously been a Senior Product Manager at e-commerce giant Amazon, was appointed to the OPTEC board. Ojeda is a highly experienced executive who has worked across a range of industries and brings a lot of expertise to the company’s board of directors.
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