© GPV Electronics Electronics Production | September 20, 2017
GPV invests millions in new capacity extensions
In the first half of 2017, Danish electronics manufacturer GPV, saw its revenues increase with 28%. The growth stems from an increased demand from existing and new customers.
Throughout 2017 the electronics manufacturer has launched a further extension of capacity within both electronics and mechanics. And for the first time, GPV expects to round the one billion mark in terms of revenue for the current financial year, the company states in a press release. During the first half of 2017, GPV saw its revenues increase by 28% to DKK 547 (EUR 73.51 million) compared with the first half of 2016. According to the company the order intake from existing and new customers has been a positive surprise, allowing GPV to keep investing in capacity extensions in both Denmark and Thailand. “Things are happening very quickly right now, and therefore we have decided to invest again in further capacity extensions only a good six months after the latest investment. We see the increased order intake as a positive challenge, and I can say that we have both the will and the capability to keep up with the rising demand and make the necessary investments to enhance capacity,” CEO Bo Lybæk explains in the press release. Most recently, in December 2016, GPV installed two new complete SMT production lines, and now the company plans to carry out yet another extension with four additional SMT lines. Firstly the company’s electronics plant in Bangkok, Thailand – where the staff will be increased from about 900 employees to more than 1’000 – will receive three new lined. And GPV plans to install a new line for prototypes at the facility in Aars, Denmark, where the staff has been increased by 60 employees to over 200 employees. Five of the six new SMT lines have been based on the latest Industry 4.0 technology, where all elements in the lines “talk” and are self-regulatory. Bo Lybæk explains that these investments amounts to more than DKK 100 million (EUR 13.44 million) and will contribute to ensure that the company can continue to deliver the products that its customers are increasingly demanding. In addition to the investments in electronics, GPV has particularly invested in new fiber laser technology and 5-axis CNC machines with robots at the plants in both Tarm and Bangkok. Besides capacity, these investments will provide new qualifications to support new business areas. The CEO of the Danish EMS-provider explains that automation is a must if we are to continue to have competitive production in Denmark.