NEW LOCATION ANNOUNCEMENT 1/12/22

NEWS RELEASE
FOR IMMEDIATE RELEASE: JANUARY 12, 2022

Today, Central Moloney, Inc. has announced its most exciting endeavor since becoming an employee-owned company over two decades ago. Due to an increased presence in the transformer market and ever-increasing demand for its services, CMI has formalized plans to establish a brand new manufacturing facility in Bay County Florida!

Located in the Venture Crossings Enterprise Center in Panama City Beach, this 140,000 square foot facility will be primarily geared to producing single phase pole mounted transformers and will service the Company’s U.S. client base. The company’s initial investment will exceed $20 million with the anticipation of employing more than 200 from

the Florida panhandle area.

Several entities took part in the full-fledged recruitment of the 70+ year company to Florida. These include the Bay County Economic Development Alliance, Florida’s Great Northwest, The St. Joe Company, the Triumph Gulf Coast Fund, the University of West Florida’s Industry Recruitment Fund and Careersource Gulf Coast. Their combined efforts, and the opportunities and incentives provided made this location the obvious home for the newest CMI

location.

Central Moloney, Inc.’s President and CEO, Chris Hart, says “We couldn’t be happier to announce that our next chapter of growth involves an area and community full of welcoming stakeholders.” “Recent years have taught us many lessons. Our customer base continues to grow and so do our commitments to them. As this happens, it becomes more important to be able to bring those into our family who share our dedication to building the very best transformers in the world. The place for us to do that is Bay County, Florida.” “Pine Bluff is still home. In order to remain strong here at home, we have to cultivate opportunities elsewhere. By moving one product line out, we get better at what remains while building a state-of-the-art facility dedicated to just pole mounted transformers.” “We firmly believe that the only way to coast is by going downhill. Our mission is not to coast. We will grow and grow the right way. Our story is just beginning.”

For further questions, please contact Olandera Dunn, Marketing Manager at 870-534-5332 or at odunn@centralmoloneyinc.com