LATHAM, NY, April 21, 2022 (GLOBE NEWSWIRE) – Latham Group, Inc. ( “Latham” or “the Company”) (NASDAQ: SWIM)., The largest designer, manufacturer and distributor of residential pools buried in The North America, Australia and New Zealand today announced that their factory fiberglass in Odessa, Texas, had been touched by fire. No employee was present at the time of the incident and no one was injured.
The site of Odessa is the second smallest plant fiberglass Latham in the US and is dedicated solely to the production of ground swimming pools fiberglass. The fire affected mainly the production area of the plant. The existing inventory in the system has hardly been affected. Production and deliveries of pool from the Odessa factory were interrupted while Latham is working alongside local authorities to investigate the situation and assess the extent of damage. The company is in the process of identifying assets and redeployment opportunities to its other US fiberglass manufacturing facilities to minimize downtime for retailers and consumers concerned.
“We are extremely grateful for the quick response of fire crews and first responders the County of Midland, and we are grateful to announce that there were no injuries,” said Scott Rajeski, President and Chief the direction of Latham. “The safety and well-being of our employees and our local communities are our top priority and we are working closely with local authorities to investigate the cause of the incident. We have invested heavily in expanding our manufacturing capacity in recent years, and our operating team works round the clock to identify opportunities to leverage our fiber glass manufacturing footprint in existing US to ensure the implementation of customer orders concerned.
About Latham Group, Inc.
Latham Group, Inc., headquartered in Latham, New York, is the largest designer, manufacturer and field distributor of residential swimming pools in North America, Australia and New Zealand. Latham has a coast-to-coast operations platform comprised of over 2,000 employees at over 30 facilities.
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements are generally identified by the use of words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential” predict “,” project “,” should “,” target “,” will fly “,” would “and, in each case, their negative or other terminology, different or similar. These forward-looking statements reflect our beliefs regarding future events as at the date hereof and are based on current expectations, estimates, forecasts, projections, assumptions, beliefs and information of our management. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be accurate. All forward-looking statements are subject to risks and uncertainties, many of which are beyond our control, and may cause future events or results to differ materially from those expressed or implied herein. It is not possible to predict or identify all such risks. These risks include, without limitation: the secular changes in consumer demand for pools and expenditures for outdoor living spaces; slow concrete pools conversion equipment for fiberglass pools in the pool industry; general economic conditions and uncertainties in the markets in which we do business and economic volatility which could adversely affect the Company’s operations, including the pandemic Covid-19; the ability of the Company’s suppliers to continue to deliver the quantity or quality of materials sufficient to meet the needs of the Company to manufacture the Company’s products and other risks, uncertainties and factors discussed in the section entitled “Factors risk “in the registration statement on form S -1 filed with the US Securities and Exchange Commission (the” SEC “) by the Company, as well as other documents that the Company will be made or, at the SEC, such as annual reports on form 10-K, quarterly reports on form 10-Q and current reports on form 8-K. These factors should not be construed as exhaustive and should be read together with other statements warning that are included in this press release and in other documents. We expressly disclaim any obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Nicole Briguet and Lauren Grama
Edelman for Latham