Factory Backlog Exceeds 2,000 Cylinders; Third Production Facility Planned for Early 2016 - TAMPA, Florida, - (http://www.financialnewsmedia.com News Alert) - MagneGas Corporation (\"MagneGas\" or the \"Company\") (NASDAQ: MNGA) a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas2 fuel, announced today that due to growing demand for MagneGas2 fuel that has created a substantial backlog, a second production facility will be operational this week. The second production unit is expected to fulfill the increased demand and the Company plans to have a third unit in operation in early 2016 to handle the continued expected high demand for its MagneGas2 industrial fuel.
The Company believes the additional demand is a direct result of its sales penetration into key vertical market segments including utilities, demolition companies, first responder markets as well as government and military sectors. The Company has also aggressively worked to expand its distribution network and in-house sales and marketing programs.
MagneGas2 has consistently received positive feedback from end users for its advantages over acetylene. Industries ranging from demolition companies, utility companies, first responders and fabricators have been praising and ordering MagneGas2 because of its proven faster cutting speed, demonstrated safety attributes, eco-friendly aspects, smaller heat affected zone and lower cost. In addition, MagneGas2 is produced in the USA versus acetylene which is made from calcium carbide imported primarily from China and other countries.
\"We continue to be very pleased with the positive feedback received from customers and distributors regarding MagneGas2. The product is a faster cutting fuel, which offers our customers numerous other savings from increased flexibility, smaller heat affected zone, reduced grinding and ability to cut layered and complex steel like no other fuel on the market. We look forward to seeing the impact of these new facilities on revenue in the coming months as we continue to expand nationwide. A third facility is under construction and is expected to be operational in early 2016 as the Company moves into its new headquarters.\" commented Ermanno Santilli, CEO, MagneGas Corporation.
The MagneGas IR...
$MNGA News - MagneGas Installs Second Production Facility to Accommodate Accelerating Demand for MagneGas2
October 20, 2015 at 09:08 AM EDT
