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Byrna Technologies starts production of personal security kits at new Fort Wayne, Indiana manufacturing facility

The Massachusetts-based company said the manufacturing facility will start producing 200 units per day of the HD launcher, increasing to 500 units per day by mid-November

Byrna Technologies Inc. -
Byrna told shareholders that it anticipates being able to fill a 23,000-unit order backlog by November

Byrna Technologies Inc (CSE:BYRN) (OTCQB:BYRN) has started production of its personal security devices at its new 14,000-square-foot facility in Fort Wayne, Indiana.

The Massachusetts-based company said the manufacturing facility will start producing 200 units per day of the HD launcher and expects that rate to increase to 500 units per day by mid-November.

Byrna told shareholders Thursday that it anticipates being able to fill a 23,000-unit order backlog by November.

READ: Byrna announces formation of a new global business unit that will focus on domestic and international law enforcement agencies and private security companies

The company also has a manufacturing facility in South Africa that is currently producing 600 units of its personal safety device kits per day. The South Africa facility will satisfy international orders, while the Fort Wayne facility will meet North American demand, it said.

"Our team did an outstanding job getting Fort Wayne up and running nearly a year ahead of schedule in order to meet the demand for our Byrna HD launcher,” CEO Bryan Ganz said in a statement. 

“Not only do we expect this new production capacity to enable us to fulfill our current 23,000 unit backlog over the next six weeks, but with the opening of this facility, we've created approximately 30 new jobs in the US, along with the jobs our new US component suppliers will likely create in order to satisfy Byrna's increased demand.”

Byrna said it was able to use its cash reserves to fund the development and launch of the Fort Wayne facility, adding that it should have “more than ample” capital resource to fund continued growth.

Byrna had around $11.8 million in cash at the end of August 30, 2020 and less than $250,000 of debt.

Shares of Byrna were up 2.9% in Canada on Thursday afternoon at C$2.14.

--Updates with share information--

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Byrna Technologies Inc.

Price: 1.4 USD

OTCQB:BYRN
Market: OTCQB
Market Cap: $205.57 m
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