GUELPH, Ontario, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Hammond Power Solutions Inc. ('HPS”) (TSX: HPS.A), a leading manufacturer of dry-type transformers and power quality solutions, today announced that it has completed the previously announced acquisition of assets relating to the operations of Micron Industries Corporation ('Micron Industries”), a company based in the United States. The acquisition is structured as an asset purchase through HPS' U.S. subsidiary. HPS will continue to operate the Micron Industries assets and continue to market the branded product offerings as previously sold by Micron Industries.

'We are excited to welcome Micron Industries into the HPS family. The combined expertise of our teams is a significant step forward in our growth strategy to offer an even broader array of innovative solutions to our customers and strengthen our reputation for high quality products and services, especially within our OEM markets,” said Adrian Thomas, CEO of HPS. 'Industrial control transformers are essential for protecting sensitive equipment and align with our focus on power quality solutions. With rising demand for US-made products in energy efficiency and automation projects, integrating Micron Industries into HPS is expected to enhance our ability to meet this growing market. Micron's US-based manufacturing strengthens our service to customers across the US and North America, supporting our domestic growth and industrialization efforts.”