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Mayville Engineering Company Expanding Production Capacity in Michigan

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Company Plans to Create Approximately 390 Skilled Employment Opportunities in Michigan During Coming Years

Mayville Engineering Company (NYSE: MEC) (the "Company" or "MEC"), a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket services, today announced it is expanding its presence in Michigan to align its production capacity with a new strategic customer relationship.

"Expanding our manufacturing capacity in Michigan this year is an integral part of our long-term plans," explained Bob Kamphuis, Chairman, President and Chief Executive Officer. "We are in the process of reviewing several sites, and are focused on the Greater Detroit area due to the availability of a highly skilled manufacturing workforce. We are grateful for the support of the State of Michigan and look forward to our future success together."

The Company is currently considering potential facilities, each of which include approximately 250,000 square feet of manufacturing space. The Company plans to hire up to 390 employees in the coming years with full production planned to commence in early 2022. As part of the agreement, the Company received a $2.5 million incentive package from the State of Michigan. In addition to the new facility in the Greater Detroit area, MEC maintains five other Michigan based facilities with over 300,000 square feet of manufacturing space in the cities of Byron Center, Vanderbilt and Wayland.

"In Michigan, we remain focused on supporting and strengthening our workforce, and creating new jobs, that will ensure long-term economic opportunity in the state," said Governor Gretchen Whitmer. "This expansion by Mayville Engineering Company builds on our Michigan Back to Work plan, creating a more resilient economy and helping us build back better for Michigan’s residents, businesses and communities."

About Mayville Engineering Company

MEC is a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket components. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction, powersports, agriculture, military and other end markets. We have developed long-standing relationships with our blue-chip customers based upon a high level of experience, trust and confidence.

Our one operating segment focuses on producing metal components that are used in a broad range of heavy- and medium-duty commercial vehicles, construction, powersports, agricultural, military and other products. For more information, please visit www.mecinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210504006078/en/

Contacts

INVESTOR AND MEDIA CONTACT:
Nathan Elwell
847-530-0249
nelwell@lincolnchurchilladvisors.com