HPS and National Material LP form a new company
Canada, Ontario: Hammond Power Solutions Inc. (HPS), a manufacturer of dry-type and cast resin transformers, announced that it has completed the formation of a new company, Corefficient S. de R.L. de C.V. (Corefficient), a joint venture with National Material LP (NMLP).
Corefficient will design, manufacture and market energy efficient electrical cores, a major component used in the manufacture of dry-type and liquid-filled transformers, reports Digital Journal.
Corefficient will be based out of Monterrey, Mexico, where the manufacturing facility is currently under construction and will be fully operational by the fourth quarter of 2015. The electrical core product manufactured by Corefficient will meet new U.S. Department of Energy efficiency regulations commencing in 2016.
The joint venture agreement between HPS and NMLP was signed in October 2014.