Leading connectivity provider, TE Connectivity Ltd. (TEL), inaugurated its novel state-of-the-art designing and manufacturing facility in Andover, MN. The facility will develop advanced temperature sensors that will be designed as per consumer requirements.
The mega facility, with a center of expertise for temperature technology development, will be one of the prime sensor-innovation centers of the company. Through this facility, TE Connectivity will cater to requirements across diverse industries including industrial solutions, HVAC, medical devices, food, aerospace and defense, among others. Scope of rapid prototyping at the facility, combined with a skilled work force, will enable speedy development of highly-engineered products. The aforementioned facility covers an area of 51,350 square feet at present, with a total expansion capacity of about 80,000 square feet.
In October, TE Connectivity had completed the acquisition of the global designer and manufacturer of sensor and sensor-based systems – Measurement Specialties Inc – for about $1.7 billion. The purchase came as a strategic move for the company, enabling it to develop an unmatched range of connectivity and sensor solutions, to capitalize on the growing connectivity demand worldwide.
Post this acquisition, the company has been focused on expanding its offerings in smart and high-performing connectivity solutions. TE Connectivity now offers reliable and efficient temperature sensors, adept at covering temperatures ranging from as low as -200°C to as high as +1000°C.
Apart from the technology development, the company is also expanding its skilled employee base which has grown over 40% in the past year.
TE Connectivity currently has a Zacks Rank #3 (Hold). Some better-ranked companies in the sector include AU Optronics Corp. (AUO), AVX Corp. (AVX) and Rogers Corporation (ROG). All three stocks sport a Zacks Rank #1 (Strong Buy).
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