It’s just business: manufacturing moves from Wolfspeed, Magic Leap, Vektan Chemical and more

The business of manufacturing never stops. Industrial companies merge, invest and strategically expand to keep competitive, even under adverse business conditions. Read on for more details on five such recent business actions made by industrial and manufacturing companies, including an international company’s first U.S. plant.

Wolfspeed Inc. announced December 9 that its MOSFET transistors would power charging systems for Toyota Motors. According to a company release, Wolfspeed’s silicon carbide semiconductor components will be used in Toyota’s battery electric vehicles. Wolfspeed CEO Robert Fuerle said the company is “honored” to be selected as a Toyota supplier.

Intella Parts Co. LLC announced it would open a new corporate HQ and distribution warehouse in Holland, Michigan. The 11,000 square-foot location will allow the forklift and aerial lift parts supplier to increase its North American consumer base for consumers on the internet as well as independent forklift mechanics, according to a December 10 company statement.

Nelson-Rudie and Associates, Inc. revealed December 10 that it would move its headquarters to Minneapolis and open satellite offices in Hudson, Wisconsin and Kansas City. The employee-owned engineering firm said the expanded footprint would position the 50-year-old company for growth.

Magic Leap announced December 30 that it had signed a deal with Pegatron for the latter company to manufacture augmented reality glasses components. According to a joint release, the partnership will allow Magic Leap to bring its AR glasses to market at scale faster. In a statement, Pegatron Vice Chairman Jason Cheng said the collaboration reflects the AR industry’s “growing maturity.”

Vektan Chemical, also known as VT Chemical, will build its first U.S. manufacturing site in Hitchcock, Texas. The Uzbekistan-based company, which manufactures polyethylene waxes, said it spent $7 million on the 35,000-square-foot factory and plans to hire 27 employees. The Hitchcock Economic Development Corporation said the move was enticed by tax abatements, sales and use tax grants and direct incentives of unspecified amounts. VT Chemical says it also plans to use the site as a new U.S. distribution and research center.