March 26, 2015 – Hammond Power Solutions Inc. a manufacturer of dry-type and cast resin transformers and related magnetics, has announced a new company: Corefficient S. de R.L. de C.V.
Corefficient, a joint venture with National Material LP, will design, manufacture and market energy-efficient electrical cores. These cores are a major component used in the manufacture of dry-type and liquid-filled transformers, HPS noted.
Corefficient will be based out of Monterrey, Mexico, where a manufacturing facility is currently under construction and will be fully operational by Q4 2015, according to HPS.
The joint venture agreement between HPS and NMLP was first signed and announced on October 23, 2014.
“Corefficient is an exciting venture and is reflective of the strong, long-term relationship between Hammond Power Solutions Inc. and National Material LP,” said Bill Hammond, HPS chairman and CEO. “Both partners bring the value of people, technology and financial strength to Corefficient. The manufacturing operation will be world class.”