Last checked at 22 Mar 2023 09:00
Hexatronic invests 30 MUSD in a new duct and pipe production facility in the Western USAPress release March 22, 2023Gothenburg, Sweden
Hexatronic invests 30 MUSD in a new duct and pipe production facility in the Western USA
Hexatronic Group AB (publ.) ("Hexatronic") has, through its wholly-owned subsidiary Blue Diamond Industries, decided to establish a new production facility in Ogden, Utah, in the western part of the US for HDPE conduit used for telecom and power cables. The investment of around 30 MUSD relates to production equipment and infrastructure for establishing the production plant. Production start is expected in the second quarter of 2024.
“We have a very positive view of the US infrastructure market for many years to come. This is especially because of the large infrastructure investments in broadband, electricity grids, roads and railways that will be made through the Infrastructure Investment and Jobs Act. With the establishment of the production facility in Ogden, Utah, Blue Diamond Industries will be able to serve customers throughout the United States. It will be the company's fourth factory for duct and pipe in the US. The three existing plants are in Middlesboro in Kentucky, Aubrey in Texas and Clinton in South Carolina. The establishment opens the market in the western parts of the US, a market Blue Diamond Industries was previously unable to serve due to high transportation costs,” says Henrik Larsson Lyon, CEO Hexatronic Group.
Gothenburg, March 22, 2023
Henrik Larsson LyonCEO Hexatronic Group
For more information, please contact:Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00Pernilla Lindén, CFO Hexatronic Group, +46 708 77 58 32
The information was submitted for publication, through the agency of the contact person set out above, at 10:00 CET on March 22, 2023. This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
Hexatronic creates sustainable networks all over the world. We partner with customers on four continents – from telecom operators to network owners – and offer leading, high-quality fiber technology for every conceivable application. Hexatronic Group (publ.) was founded in Sweden in 1993 and the Group is listed on Nasdaq OMX Stockholm. Our global brands include Viper, Stingray, Raptor, InOne, and Wistom®.
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2023-03-22 Hexatronic invests 30 MUSD in a new duct and pipe production facility in the Western USA