HPS Increases Planned Capital Program
Posted: Aug 26,2024
General News Investor Relations
GUELPH, Ontario, Aug. 26, 2024 -- Hammond Power Solutions Inc. (“Hammond”) (TSX: HPS.A) a leading manufacturer of dry-type, cast resin transformers, and related magnetics, today announced its intention to increase its planned capital program by approximately $20 million over two years.
“Hammond continues to experience favourable industry tailwinds for certain products driven by the electrification of our economy,” said Adrian Thomas, CEO of Hammond Power Solutions. “These investments will be made over the course of 2024 and 2025 to expand production in Monterrey to build custom power transformers which will remove current capacity bottlenecks and add significantly to our revenue capacity.”
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“Hammond continues to experience favourable industry tailwinds for certain products driven by the electrification of our economy,” said Adrian Thomas, CEO of Hammond Power Solutions. “These investments will be made over the course of 2024 and 2025 to expand production in Monterrey to build custom power transformers which will remove current capacity bottlenecks and add significantly to our revenue capacity.”
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