Following flying start of 2021 - GPV expands capacity in Asia

Today, GPV has production facilities in Denmark, Switzerland, Germany, Austria, Slovakia, Thailand, Sri Lanka, and Mexico, and in a first step to expand its capacity, the company is investing in new production lines for its facilities in Slovakia, Sri Lanka, and Thailand. The EMS provider disclosed in its first quarter report that it has invested in SMT lines with short delivery time, making most of the extra capacity ready for use as early as Q2 2021. Meanwhile, GPV has taken the decision to consolidate the production facilities in Asia into its two large sites in Thailand and Sri Lanka, consequently closing down and transferring manufacturing activities in China to the groups other sites. The Chinese activities will instead focus on material sourcing for the other GPV sites. GPV says it will also make large capacity expansions in Sri Lanka and Thailand where two planned factory extensions were put on hold due to the coronavirus pandemic. These projects will now resume. The full effect, however, wont be realised until the beginning of 2023. "Our ambitious growth plans for GPV are intact, and with a clearer view of the consequences of the coronavirus pandemic, we can resume the short and long-term capacity expansion, which will secure a good future foundation. To summarise, we will invest and are prepared for further growth," says GPV CEO Bo Lybæk in the quarter report.