AeroVironment to Invest $15 Million to Expand Production Capabilities in Greene County, Ohio

MT Newswires Live06-02

AeroVironment (AVAV) said Tuesday that it plans to invest $15 million to expand advanced production capabilities in Greene County, Ohio.

The company aims to expand project sites in the cities of Beavercreek and Xenia by adding about 44,000 square feet to support pilot-scale and mid-volume production of advanced biotechnology materials and components, AeroVironment said.

The company added that its investment will be supported by a performance-based incentive package led by the State of Ohio, including assistance through JobsOhio, tied to verified job creation and operational milestones.

Shares of the company were down over 2% in Tuesday trading.

Price: 199.00, Change: -5.09, Percent Change: -2.49

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