Applied UV Inc (NASDAQ:AUVI) subsidiary MunnWorks, a custom manufacturer of luxury mirrors and furniture for the hospitality market, has received a model room order from the Renaissance Cleveland Hotel.
Upon successful acceptance of the Model Room order, a follow-on $2 million order is expected.
The furnishing will be done in a 100,000 square foot Brooklyn, New York manufacturing facility, which MunnWorks acquired through the purchase of VisionMark LLC.
"This Renaissance Cleveland Hotel order validates this recent VisionMark strategic asset purchase because there is increasing interest across the home furnishings industry to produce furniture made in the USA and reduce the reliance of and the associated supply chain issues related with products manufactured in China," said Max Munn, President, and Director of Applied UV and MunnWorks.
Price Action: AUVI shares are trading higher by 25% at $1.12 on the last check Friday.