ECD Automotive Design Announces Key Initiatives to Right-Size Cost Structure and Support Disciplined Growth

Core Insights - ECD Automotive Design, Inc. is enhancing operational efficiency and optimizing working capital to strengthen its financial position [1][2] - The company is committed to disciplined growth and has completed a comprehensive review of its cost structure and capital allocation [2] - ECD focuses on sustainable value creation and will continue to seek opportunities to improve efficiency and cash position [2] Operational Initiatives - A holistic bottoms-up cost savings analysis has been conducted to identify and eliminate unnecessary expenditures [5] - The company has identified opportunities to enhance working capital velocity through a strategic review of inventory management practices [5] - ECD has negotiated a waiver with existing lenders, resolving defaults and securing a 12-month grace period from debt service obligations [5] Company Overview - ECD Automotive Design is a public company trading under the ticker ECDA on Nasdaq, specializing in restored luxury vehicles [3] - The company restores various classic vehicles, including Land Rover Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs [3] - ECD was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 67 craftsmen and technicians [3]