Bel Announces Grand Opening of New Facility in India
Rhea-AI Summary
Bel Fuse Inc. (Nasdaq: BELFA and BELFB) has announced the grand opening of its new manufacturing facility in Manesar, Gurugram, India. This development follows the company's acquisition of Enercon in November 2024 and replaces Enercon's original Indian factory established in 2018.
The new facility represents a significant expansion for Bel's Power Solutions and Protection segment, with the potential to double its manufacturing capacity in India. The workforce has grown from 17 to over 200 associates since 2018. This strategic move enhances Bel's manufacturing footprint outside China, offering increased optionality for customers.
Positive
- Doubles manufacturing capacity in India
- Geographic diversification reduces China dependency
- Workforce growth from 17 to 200+ associates
- Successful integration of Enercon acquisition
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, BELFA gained 1.35%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
WEST ORANGE, N.J., March 07, 2025 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB) (“Bel” or the “Company”) today announced the grand opening of its new facility in Manesar, Gurugram, India, a critical milestone following Bel’s acquisition of Enercon in November 2024. The original Enercon factory in India, which this replaces, was opened in 2018 and grew from 17 associates to over 200 associates today. The new facility will enable our Power Solutions and Protection segment to double its manufacturing capacity in India. This expands the overall Bel footprint outside of China thus providing more optionality for our customers.
Dan Bernstein, President and CEO of Bel, commented, “We’re excited to be celebrating the opening of our new facility in India. This project was underway by the Enercon team at the time of our acquisition and will aid Bel’s goal to accelerate the geographic diversification of our manufacturing footprint.” Eyal Shary, CEO of Enercon, added, “We are proud of our investment in India and our ability to grow our manufacturing base within it. The Enercon team did an amazing job of keeping this project on track even during the acquisition process and we look forward to the combined company benefitting from the additional space.”
About Bel
Bel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the defense, commercial aerospace, networking, telecommunications, computing, general industrial, high-speed data transmission, transportation and eMobility industries. Bel's portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets. Bel's product groups include Power Solutions and Protection (front-end, board-mount and industrial power products, module products and circuit protection), Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies), and Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components). The Company operates facilities around the world.
Company Contact:
Lynn Hutkin
VP Financial Reporting & Investor Relations
ir@belf.com
Investor Contact:
Three Part Advisors
Jean Marie Young, Managing Director or Steven Hooser, Partner
631-418-4339
jyoung@threepa.com; shooser@threepa.com
FAQ
What is the manufacturing capacity increase expected from Bel's new India facility?
How many employees does BELFA have at its new Manesar facility?
When did Bel Fuse (BELFA) acquire Enercon?
Where is Bel's new manufacturing facility located in India?
How does the new facility affect BELFA's geographic diversification strategy?
