Corporate
July 14, 2006
Garmin® Announces Expansion of Garmin AT’s Facility
SALEM, Ore./July 14, 2006 — Garmin International Inc., a unit of Garmin Ltd. (Nasdaq: GRMN), is pleased to announce a facility expansion by its subsidiary, Garmin AT. The facility expansion includes two construction projects totaling $9 million. Located in Salem, Oregon, Garmin AT focuses on the design, manufacturing and support of communication, navigation, and surveillance products for general aviation customers.
“We are fortunate that the acceptance of our current aviation products has enabled this growth, and allowed us to make a greater contribution to the area,” said John Macnab, Garmin AT’s General Manager. “These construction projects will provide us with the space we need to continue developing products that lead the aviation industry in innovation, quality, and reliability.”
The construction of a new 12,000 square foot aircraft hangar is expected to be completed in the fourth quarter of 2006. Garmin AT will also expand its main facility by 54,000 square foot. This expansion project is scheduled to be completed in the second quarter of 2008, and will more than double the current office and engineering lab space. These new facilities will be dedicated to the design, development and manufacturing of Garmin’s aviation products.
Garmin AT also plans to increase its workforce by approximately 90 employees by December 2010. Currently, Garmin AT employs approximately 165 people.
Garmin’s partnerships with the State, Region and City have facilitated business growth and contributed to the expansion of the Salem facility. Economic resources have been provided in the arenas of workforce training, strategic equipment purchase, road improvements, and enterprise zone tax incentives
“Garmin AT has been a strong economic and community partner for the state of Oregon and I am pleased to see their expansion in the Salem area,” said Governor Ted Kulongoski. “They are creating high-wage, skilled jobs for Oregonians.
“The Garmin AT expansion is welcome news for the Salem area job growth,” said Mayor of Salem, Oregon, Janet Taylor. “It confirms that our region, through its highly coordinated State, Regional, and City resources, can provide companies with a significant competitive advantage.
About Garmin International Inc.
Garmin International Inc. is a member of the Garmin Ltd. (Nasdaq: GRMN) group of companies, which designs and manufactures navigation, communication and information devices - most of which are enabled by GPS technology. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries.
Garmin is a registered trademark of Garmin Ltd.
Notice on forward-looking statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. All statements regarding the company’s future facilityexpansion and hiring plans are forward-looking statements. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 31, 2005 filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of Garmin’s Form 10-K can be downloaded at www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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