Atlantic International Corp. Expands Major Partnership
Atlantic International Corp. (“Atlantic”) (Nasdaq: ATLN), known for its strategic staffing and workforce solutions, has exciting news! The company's subsidiary, Lyneer Staffing Solutions, has successfully secured a significant contract renewal with a prominent North American baking company, significantly located in Northern California.
Expansion of Services and Impact
This renewed contract is not just a continuation of a partnership; it also involves an expansion to several additional locations. This strategic move positions Lyneer to potentially manage around $10 million in workforce spending. Such growth highlights Lyneer's exceptional ability to cater to the unique requirements of the food production sector, showcasing its tailor-made workforce solutions.
Management Insights
CEO Todd McNulty expressed enthusiasm for this development, stating, “This contract renewal represents a powerful vote of confidence in Lyneer’s ability to deliver consistent value to our clients.” He emphasized that the expansion signifies a deepening of the relationship with a valued client, reflecting Lyneer’s commitment to enhancing their specialized workforce solutions across the client's operations. “We eagerly anticipate providing exceptional talent that propels their business forward,” he added.
Strategic Growth Alignment
Jeffrey Jagid, the CEO of Atlantic, also shared his thoughts on the renewal, highlighting that it aligns perfectly with their strategic growth initiative. It aims to deepen ties with key clients in strategic industries. He remarked, “Lyneer continues to be a vital component of Atlantic. This expanded partnership further validates our acquisition strategy, and we’re looking forward to the opportunities this presents for both companies.” The focus on enhancing service offerings will, ultimately, drive value for shareholders.
Immediate Implementation
The expanded contract is set to take immediate effect, and Lyneer is gearing up to initiate staffing operations at these new locations within the upcoming weeks. The commitment to providing quality staffing services will continue to strengthen Atlantic’s position in the staffing industry.
Overview of Atlantic International Corp.
Atlantic International Corp. is firmly established as a leader in strategic staffing and outsourced services. With a robust growth strategy, Atlantic operates through its main subsidiary, Lyneer, offering complete HR solutions across more than 40 independent on-site and vendor-on-premises facilities. This impressive operation supports over 12,000 employees weekly, solidifying Atlantic's status as one of the largest national staffing firms servicing various verticals, including light industrial, commercial, professional, and managed services.
Commitment to Excellence
As they continue to evolve, Atlantic International Corp. remains committed to not just meeting but exceeding client expectations. The partnership with the North American baking company is a testament to their dedication to quality, adaptability, and client satisfaction.
Frequently Asked Questions
What is the recent announcement by Atlantic International Corp.?
Atlantic International Corp. has secured a significant contract renewal with a leading North American baking company, which includes expanding to more locations.
How much will the renewed contract potentially generate?
The renewed contract is expected to capture approximately $10 million in spending.
What does the CEO of Lyneer say about the contract renewal?
Todd McNulty, CEO of Lyneer, stated that the renewal is a strong vote of confidence in their ability to deliver consistent value to clients.
What is the role of Lyneer in Atlantic International Corp.?
Lyneer Staffing Solutions serves as the main operational subsidiary of Atlantic, providing comprehensive HR solutions and workforce management services.
How does this contract renewal align with Atlantic's strategy?
This contract renewal is in line with Atlantic's growth strategy of building deeper relationships with key clients in strategic industries.
