SRS Building Expansion Update

As you may recall, earlier this summer we announced that Santa Rosa Systems has been approved for state incentives related to a building expansion in Bullitt County. Since that time, we have been working with an architect and contractor to develop a site plan for a proposed new building in the Mt. Washington Business Park. Last night, the Bullitt County Planning and Zoning commissions formally approved Santa Rosa System’s proposed site plan.

This action clears the way for Santa Rosa to complete the purchase of 23 acres in the business park and commence our expansion. There will be a formal ground breaking ceremony at the site on Monday afternoon. We assume there will be press coverage of the event and you may see some articles related to this ceremony.

Over the next few months we will:

  1. Finalize the actual building plans for the site, which will initially include:
    1. Over 150,000 square feet of manufacturing for Santa Rosa
    2. Over 30,000 square feet of new office space for all of MHS Holdings
  2. Begin construction, which is expected to last well into 2017
  3. Start to develop a master transition and expansion plan for how to phase in the new facilities with minimal disruption to ongoing operations

We plan to have more details and specifics regarding the new building available to share by the December employee meetings. This is a significant milestone for our company and at the same time an immense undertaking. We ask that you remain patient through this process as we work diligently to set up Santa Rosa and all of MHS Holdings to take advantage of the unprecedented opportunities in our market.

Sincerely,

Neil McElroy, President, Santa Rosa Systems
Brian Johnson, Chief Financial Officer, MHS Holdings

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