It's just business: manufacturing moves from Rivian, Sandvik Group, Lightship, 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 expansions and acquisitions made by industrial and manufacturing companies.

Expansion: Karman Space & Defense announced April 9 that it would spend $28 million to build a new 200,000 square-foot factory in West Valley City, Utah, creating an estimated 500 jobs over the next 20 years. In a company statement, the energetic components company said the new project would take advantage of the site’s proximity to existing Karman suppliers to increase production of drone launchers and nozzles.

Partnership: Rivian and Redwood Materials announced April 14 that electric vehicle manufacturer Rivian would install a Redwood Materials battery energy storage system at its factory in Normal, Illinois. In a joint statement, the companies said the battery system would store and release 10 megawatt-hours of energy strategically, providing extra energy at peak hours and reducing energy costs. In a statement, Rivian CEO RJ Scaringe said the battery electric storage system would keep its factory flexible and secure from energy cost and availability fluctuations.

Acquisition: Sandvik Group announced April 9 it had acquired a controlling stake of 80% of K&Y Diamond, a Canada-based manufacturer of diamond tools with an emphasis on optics. In a company statement, the industrial group said the company, which makes tools for producing corrective lenses, contact lenses, and other optical applications in the aerospace and medical industries, will become a part of Sandvik Coromant, itself a division of Sandvik Group’s Machining division. In a statement, Sandvik CEO Stefan Widing said the purchase brings K&Y Diamond’s expertise with “micro-precision tools” to the industrial group’s portfolio.

Expansion: Lightship, an electric RV startup, announced April 14 that it would expand its Broomfield, Colorado factory by 44,000 square feet, more than doubling the 32,000s-square-foot plant’s total footprint. In a company statement, Lightship said the expansion is already underway by press time. The company added that, as it looks to expand and consolidate its business, it would standardize inclusion of the 77kWh battery on its AE.1 trailer.

Expansion: Oxbo, a harvesting and agricultural equipment manufacturer, announced April 15 it will hold a ribbon-cutting ceremony on its new 200,000 square-foot factory in Bergen, New York April 16. According to a company statement, the new factory will design and manufacture specialty harvesting equipment for seed and sweet corn, green beans, and peas using a laser-based fabrication center, robotic and manual welding, powder and liquid finishing systems, and mixed-model assembly lines. The site is expected to house 250 new employees.