Hammond Power Solutions Increases Planned Capital Program
Posted: Dec 20,2022
GUELPH, Ontario, December 20, 2022 (GLOBE NEWSWIRE) -- Hammond Power Solutions Inc. (“HPS”) (TSX: HPS. A) a leading manufacturer of dry-type transformers, power quality products and related magnetics, today announced its intention to increase its planned capital program by approximately $40 million over two years.
“HPS continues to experience a very favourable environment where the electrification of our economy continues to drive strong demand in our industry”, said Bill Hammond, CEO of HPS. “These planned capital investments are expected to be made over the course of 2023 and 2024, and when complete, are expected to increase HPS’ overall sales capacity by approximately $180 million.”