Advanced Nurseries, a subsidiary of Advanced Growing Systems, formally broke ground on its third Atlanta area mega-site. The facility's geographic range of shipments complements the two existing Company facilities to achieve total market penetration in the Atlanta metropolitan area.
"We will be able to handle all the established and growing metro areas effectively between our three locations," says Jon Hammond, chief executive officer of Advanced Nurseries. "This location is ideal to service the downtown market and several of the fast growing markets in the Northwest corridor of Atlanta."
The "South Cobb" location, which is expected to be fully operational by March 1st, is projected to generate an additional $4-4.5 million in gross revenue for Advanced Growing Systems, Inc. in 2007, while further allowing the Company to spread specific G&A expenses over three facilities thereby increasing the Company's overall net margins.
"South Cobb is key to establishing a strong foundation of success and maintaining our rapid growth rate planned throughout '07," says Chris Nichols, president and CEO of Advanced Growing Systems, the publicly traded parent company of Advanced Nurseries. "We achieved over $5.6 million in gross sales after only nine months of operations and believe that we will achieve gross sales of over $20 million in 2007. It is important to have all three locations fully functional and manned with the top industry professionals prior to our Spring selling season. Our continued expansion will move us geographically beyond Atlanta throughout 2007 and 2008."