LONDON, Jan. 23, 2017 /PRNewswire/ -- International Game Technology PLC (NYSE:IGT) announced that its subsidiary, IGT Global Solutions Corporation (with International Game Technology PLC, hereinafter "IGT"), will undertake a $15 million expansion to house a new, state-of-the-art instant ticket press at its Lakeland, Florida facility. The new servo-controlled TRESU press will increase IGT's printing capacity by approximately 30%.
This expansion will add 45,000 square feet to house the new press, along with added production space, a new shipping and receiving area, secure office space, and secured finish goods storage. The new press, which is slated to come online in early 2018, will be the newest in the industry, incorporating the latest advancements in flexography technology. The TRESU will complement IGT's current servo-controlled Gallus press, which also utilizes flexography technology.
"The addition of this new, state-of-the-art TRESU press is, at its core, a commitment to our customers, who have come to expect high-quality tickets, innovative games, and a partnership grounded in our Customer-First philosophy," said Michael Chambrello, IGT Chief Executive Officer, North America Lottery. "We are extremely proud of the growth we've experienced in our instant ticket printing and services business over the past several years which has led us to be able to invest in an expanded facility and new press. With the expansion, we will be able to offer our customers the latest technological advances, added flexibility in production scheduling and even more products and solutions to help support sales growth."
The addition of the second press will increase IGT's production flexibility and deliver substantial backup production capacity to service the lottery industry. During the next several years, IGT expects to add approximately 60 jobs in its Lakeland facility to support its growth as a result of the expanded facility and new press.
About IGT
IGT (NYSE:IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has over 12,000 employees. For more information, please visit www.IGT.com.
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The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect International Game Technology PLC's business, including those described in International Game Technology PLC's annual report on Form 20-F for the financial year ended December 31, 2015 and other documents filed from time to time with the Securities and Exchange Commission (the "SEC"), which are available on the SEC website at www.sec.gov and on the investor relations section of International Game Technology PLC's website at www.IGT.com. Except as required under applicable law, International Game Technology PLC does not assume any obligation to update the forward-looking statements. Nothing in this news release is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per International Game Technology PLC share for the current or any future financial years will necessarily match or exceed the historical published earnings per International Game Technology PLC share, as applicable. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
Contact:
Robert K. Vincent, Corporate Communications, toll free in U.S./Canada (844) IGT-7452; outside U.S./Canada (401) 392-7452
James Hurley, Investor Relations, (401) 392-7190
Simone Cantagallo, (+39) 06 51899030; for Italian media inquiries
SOURCE IGT
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