Peloton Announces New $400 Million U.S. Factory
Peloton Interactive (NASDAQ: PTON) announced today that it will build a new manufacturing facility in Troy Township, Ohio. The $400 million investment will be the company's first dedicated domestic site, and is intended to continue to help resolve long delivery delay times.
Peloton completed its acquisition of Precor earlier this year, which brought it into the market for commercial fitness equipment customers and gave it access to two U.S. manufacturing plants. In the company's fiscal second-quarter 2021 financial release, Peloton said, "we will be incrementally investing over $100 million in air freight and expedited ocean freight over the next six months in order to improve our order-to-delivery windows." Today's announcement is the latest step toward that goal.
Image source: Getty Images.
Source Fool.com
