07:32 AM EDT, 08/26/2024 (MT Newswires) -- Hammond Power Solutions (HPS-A.TO) said on Monday that it will increasing its planned capital program by $20 million over two years to support its power transformer portfolio.

"These investments will be made over the course of 2024 and 2025 to expand production in Monterrey to build custom power transformers which will remove current capacity bottlenecks and add significantly to our revenue capacity," said CEO Adrian Thomas.

Since 2022, Hammond Power has invested $80 million in capacity increases for its entire product range.