ALISO VIEJO, Calif., Feb. 11-- XsunX, Inc. (OTC Bulletin Board: XSNX - News), provided an update on the status of their facility selection and preparation of manufacturing facilities in Oregon, US.
In preparation for the establishment of its manufacturing facility, XsunX has been engaged in a detailed search for the most appropriate facility available. "The downturn in the semi-conductor industry in Oregon a few years ago coupled with the current export of operations offshore by a number of companies has created opportunities to lease a suitable building as opposed to having to build one from the ground up," said XsunX COO Joe Grimes. The selection has been narrowed to a select few, and the Company is now engaged in lease negotiations. "Each of our finalist buildings provides us with existing infrastructure we can leverage to our benefit so we're now focused on securing appropriate lease terms. We hope to announce the location of our new home as soon as possible," added Mr. Grimes.
"As much as we have anticipated finalizing negotiations and securing a facility, time has actually worked to our benefit," stated XsunX CEO Tom Djokovich. "Several of the properties currently under consideration were not available when we began our search last fall. Our time line requires that we have a building secured by the end of March and we've been actively working to find the right building and deal as soon as possible. In the long run, I'm glad we have not had to rush our decision and settle for less than what we're looking for. It has turned out to be a benefit to our shareholders that we haven't had to pay for facilities we're not actually using yet."
The various components to the Company's manufacturing system are scheduled to begin arriving later this year. In preparation for the arrival of its systems, XsunX has planned to secure a manufacturing facility by the end of March, if not earlier, and begin facility improvements in the May/June period which it believes will provide ample time for improvements including electrical, gas, plumbing, and other systems to support its manufacturing lines.
For more information about XsunX, please visit XsunX.com.
Safe Harbor Statement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.