USA, Utah, Cedar City: LS ELECTRIC shares rose by more than 5 % after the company announced plans to invest $162 M (250 B won), in the expansion of its plant in Cedar City, Utah.
The second-phase expansion will increase the size of the facility from 13,223 m² to 66,115 m², making it around six times larger than its current footprint. The project is expected to be completed in early 2027.
Once the expansion is finished, annual switchgear production capacity at the site is expected to reach around $324.2 M (500 B won). This would represent roughly a tenfold increase compared with current production levels.
LS ELECTRIC plans to develop the Cedar City facility into a strategic North American hub, with local design and R&D capabilities. The company aims to strengthen its position in the region as demand grows for power infrastructure linked to data centres, industrial electrification and Big Tech-driven investment.
The announcement comes amid continued investor interest in power equipment companies. HD Hyundai Electric also rose by more than 4 % on the same day, reflecting broader optimism across the sector.
The investment highlights growing demand for switchgear and other grid equipment in North America, where utilities, industrial customers and technology companies are increasing spending on electrical infrastructure.
Source: Finance.biggo.com
