Maskco Technologies, Inc. Announces a Strategic Manufacturing Partnership and Investment With Gredale, LLC
The alliance will create the largest manufacturer of N95s in the United States with a production capacity of over 300 million protective face masks per month.
MIAMI, November 11, 2020 (Newswire.com) - Maskco Technologies, Inc., manufacturer of the MTech-95 Particulate Respirator, today announced a strategic manufacturing partnership and investment with Gredale, LLC, a Los Angeles-based manufacturer and distributor of personal protection equipment and textiles used to manufacture personal protection equipment. Under the terms of the agreement, upon approval from NIOSH, the companies will establish a production facility in Los Angeles, California, producing approximately 160,000,000 N95 protective face masks per month.
In addition to overseeing the production in Los Angeles, Gredale will provide investment and credit facilities totaling $100 million for the purchase of raw materials, machinery and working capital. Greg Lorber, CEO of Gredale, LLC will also be appointed to the Maskco Technologies Board of Directors.
Previously, in June of 2020, Maskco Technologies announced that it had entered into a distribution agreement with Gredale to distribute the MTech N95 Respirator through various channels including U.S. state and government agencies. To date, Gredale has committed to distributing a minimum of 900 million MTech N95s over the next 24 months pending approval by NIOSH.
Scott H. Weissman, CEO of Maskco Technologies said, "I am extremely pleased to turn a majority of our production capacity over to Gredale, whose management has over 30 years of experience manufacturing and sourcing textiles as well as the highest quality personal protection equipment on the market today. Their extensive capabilities make them the perfect investor and partner for Maskco Technologies."
The Downtown Los Angeles facility which formally housed a Van Heusen textile factory is expected to open in March of 2021. The facility will be one of three Maskco Technologies factories currently being established in the United States. The Company plans to begin producing the MTech N95 in Jacksonville, Texas, pending approval from NIOSH over the next sixty days, and expects to open a facility on Vashon Island, Washington at a former K2 ski factory in August 2021. The Company expects to be producing over 300 million N95s per month within the next 12 months utilizing equipment provided exclusively by SharperTek, a Pontiac, Michigan based manufacturer of automated ultrasonic systems and machinery.
Greg Lorber, CEO of Gredale said "Having spent 20 years of my life operating the largest domestic textile manufacturing facility west of the Mississippi, I take great pride in assisting Maskco to develop and produce the MTech N95 here in downtown Los Angeles. Our team at Gredale has the technical experience with non-woven melt blown materials to make sure that our customers and health care professional's needs are met with a precise attention to performance and detail."
About Maskco Technologies, Inc.
Maskco Technologies, Inc., a manufacturer of medical devices, was formed in April of 2020 by a group of health care professionals who realized the critical need for additional production of N95 Respirators in the United States. The company manufacturers its products under the authorization of Huck Medical Technologies, Inc. http://www.maskcotech.com
About Gredale LLC
Gredale LLC, based in Los Angeles, California, has more than nine years of experience in manufacturing, sourcing, and distributing products from around the globe. Recently the Company changed its focus toward being a medical-grade Personal Protective Equipment supplier. In 2020 Gredale received its FDA approval as a North American manufacturer of medical-grade isolation gowns. Gredale's historical experience in textile and non-woven product development strengthens their ability to deliver quality products in the "woven" and "non-woven" medical supply category. http://www.gredale.com
Media Contact Information
Scott H. Weissman
Source: Maskco Technologies