May 08, 2024
Thermon Expands Capacity to Meet Growing Demand for Technologies & Solutions That Enable Electrification and Decarbonization Globally
Major Upgrade and Expansion of Manufacturing Facilities in Ontario, Canada Boost Capacity and Productivity, Customer Response Times
AUSTIN, Texas – May 7, 2024 — Thermon Group Holdings, Inc. (NYSE:THR) (“Thermon”), a global leader in industrial process heating, today announced that it is bolstering its customer response times and capabilities with the completion of its recently modernized and expanded manufacturing facilities in Orillia and Oakville, Ontario.
Industry transition to electrification & decarbonization triggers decision
“As the industry continues to transition to carbon-neutral energy, the decision to modernize and streamline manufacturing operations is an expectation of global demand for technologies and solutions that enable electrification and further decarbonization of carbon-intensive process heating systems,” said Mark Roberts, Senior Vice President of Heating Systems Business Line and Global Engineering for Thermon. “Along with operational improvements, we are enhancing research and development by doubling the lab’s footprint and adding revolutionary testing capabilities. This supports our long-term goal of proactively serving customers who are embracing electrification of heating systems that help them to achieve their decarbonization goals.”
R&D laboratory doubles in size increasing opportunities to innovate
The enhanced facility offers distinct advantages to Thermon’s customers, who will experience a greater level of operational, manufacturing, logistical, research and development, and technical support from staff and equipment based there. It will continue to provide systems to create heating solutions for a wide range of industries, including those that operate in the energy, chemicals, food and beverage, rail and transit, construction, and pharmaceutical sectors, among others.
Thermon knows that R&D will play a pivotal role in this energy transition and understands the importance of safely introducing new technologies, which push the operational limits of temperature, voltage and wattage necessary to address these electrification trends.
The company has been focusing on improving processes, investing in people and increasing productivity. “We redesigned the production processes, reorganized the plant layouts and have been cascading Operational Excellence resulting in expanded manufacturing capacity and improved flow with efficiency gains,” said Roberto Kuahara, Senior Vice-President of Global Operations for Thermon. Gaining velocity and productivity through these process improvements means that we respond more quickly to our customers’ needs, requests and expectations while reducing lead times and protecting our margins. We are well positioned to continue supporting our customers.”
The Ontario bases are located at:
Thermon
2721 Plymouth Drive
Oakville, Ontario, Canada L6H 5R5,
Phone: +1 905-829-4422
and
Thermon
1 Hunter Valley Road
Orillia, Ontario, Canada L3V 0Y7
Phone: +1 705-325-3473
The Oakville and Orillia plants complement Thermon’s network of 10 manufacturing facilities in the USA, Canada, Europe, and India. With more than 1,600 employees in 15 countries worldwide, Thermon employs around 350 staff at its Oakville and Orillia plants.
Acquisition unlocks further capacity in support of energy transition
In other news, Thermon acquired Vapor Power International and its affiliates, (“Vapor Power”), a leading provider of high-quality industrial process heating solutions in January 2024. This investment marked another important step in executing the company’s strategy to profitably grow through decarbonization, diversification and digitization initiatives.
“Thermon’s recent acquisition of Vapor Power shows our commitment to being the leader in industrial process heating solutions,” said Bruce Thames, CEO and President of Thermon. “The Vapor Power and Precision Boilers team have been on a similar journey in the electrification of process heating systems, and we are excited to compound and provide even more solutions to existing and new markets as a collective team.”
Commitment to customers & employees
Thermon Canada’s commitment to safety was recognized when it was named Canada’s Safest Manufacturing Employer by Occupational Health & Safety in October 2023. The annual award is given to companies in Canada that actively promote the health and safety of their workers. In addition, the process heating specialist launched a company-wide annual scholarship program for children of employees. This complements existing initiatives for new employees, who have access to scholarship programs, training and development opportunities.
About Thermon
Through its global network, Thermon provides safe, reliable and mission critical industrial process heating solutions. Thermon specializes in providing complete flow assurance, process heating, temperature maintenance, freeze protection and environmental monitoring solutions. Founded in 1954, Thermon is headquartered in Austin, Texas. For more information, please visit www.thermon.com.
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