The Danish EMS-partner (Electronics manufacturing services) GPV, is expanding its capacity and investing in new production lines for the company’s facilities in Thailand as well as in Slovakia and Sri Lanka, media Evertiq reports.
GPV has production facilities in Denmark, Switzerland, Germany, Austria, Slovakia, Thailand, Sri Lanka, and Mexico but the company plans to consolidate the production facilities in Asia into its two large sites in Thailand and Sri Lanka. With this initiative, GPV will close down its manufacturing activities in China and move them to the groups’ other sites and the Chinese activities will instead focus on material sourcing for the other GPV sites.
Moreover, GPV also plans to resume the projects of making large capacity expansions in Sri Lanka and Thailand. Originally GPV planned the two planned factory extensions, but the project was put on hold due to the coronavirus pandemic. The full effect, however, won’t be realized until the beginning of 2023.
The company’s quarterly report shows that GPV has recorded record results during the first quarter of 2021 and CEO Bo Lybæk says in the report, “Our ambitious growth plans for GPV are intact, and with a clearer view of the consequences of the coronavirus pandemic, we can resume the short and long-term capacity expansion, which will secure a good future foundation. To summarise, we will invest and are prepared for further growth.”