Business
Richardson Electronics, Ltd. Upgrades Headquarters to Accommodate Growing Green Energy Solutions Business Unit
Investor open house and presentation planned for August 22, 2023 LAFOX, Ill., July 24, 2023 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL), a
About this update from Richardson Electronics, Ltd.
[{"type":"text","content":"Investor open house and presentation planned for August 22, 2023\nLAFOX, Ill., July 24, 2023 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for the green energy, power management, custom display and healthcare markets, announced today the completion of recent upgrades to its LaFox, IL Headquarters after investing several million dollars to expand its design, manufacturing and test capabilities and capacity. The expansion adds more than 16,000 square feet of manufacturing space and will serve as a showcase for the Company’s Green Energy Solutions (“GES”) production. “We continue to add new, innovative products to support global green energy markets including wind, solar, electric vehicles, and other green power management applications such as lab grown diamonds. Post-COVID, we did not mandate a return to the office for many of our employees. This left us with excess administrative space, which we converted to a state-of-the-art manufacturing floor to support the growth of our GES business unit. We are extremely excited by the long-term potential of our GES business, as sales from this segment have increased 110.5% from $22.6 million in FY22, to $47.6 million in FY23,” said Edward J. Richardson, Richardson Electronics Chief Executive Officer. Richardson Electronics will manufacture its patented ULTRA3000® and ULTRAPEM™ multi-brand Pitch Energy Modules; the patent-pending ULTRAUPS3000™, designed to replace lead-acid batteries in wind turbine generators and other power management applications; battery start modules for numerous applications including EV locomotives; and other products in the expanded area. Total manufacturing space in LaFox is now 160,000 square feet. The Company plans to host an open house and presentation for investors on August 22, 2023, to showcase its products and upgraded facilities. To request an invitation, contact [email protected]. About Richardson Electronics, Ltd.Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactu...