Hexatronic invests 30 MUSD in a new duct and pipe production facility in the Western USA
March 22 2023 - 5:00AM
Hexatronic invests 30 MUSD in a new duct and pipe production
facility in the Western USA
Press 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®.
- 2023-03-22 Hexatronic invests 30 MUSD in a new duct and pipe
production facility in the Western USA
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