Automodular has secured a facility in Brantford, and, at the peak of the contract, will engage approximately 40 personnel in relation to the contracted work. Work is already underway on the contract which is for a fixed number of units to be assembled over an estimated period of one year. The contract would represent approximately 35% of the Company’s gross revenues measured against the Company’s gross revenues for the twelve-month period ended September 30, 2011. Approximately 80% of the Company’s revenue under the contract relate to the purchase of materials as directed by the customer.
Automodular Corporation is a supplier of sub-assembly, sequencing and transportation services to the automotive industry – Ford’s Oakville Assembly Plant and the renewable energy industry – Vestas Nacelles A/S. The Company has three operating facilities and employs approximately 525 people.