Hammond Power Solutions Increases Planned Capital Program
September 2, 2024
Hammond Power Solutions Inc. has 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.”
This new expansion will support Hammond’s power transformer portfolio of large, high-power transformers which are widely used in several commercial and industrial markets. With this expansion, Hammond will shorten wait times and enhance our North American delivery platform.
Since 2022, Hammond Power Solutions has invested approximately $80 million in capacity increases for its entire product range, the most recent being our new facility in Monterrey to build small low voltage and power quality products, which opened at the end of the second quarter of 2024.
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