Espey Mfg. & Electronics Corp. Expands Magnetics Facility for Growth

Author: Dylan Bailey Updated: 10-22-2025 04:26 PM

Expansion of Espey Mfg. & Electronics Magnetics Facility

Espey Mfg. & Electronics Corp. (NYSE American: ESP), based in Saratoga Springs, has announced the successful commencement of full-scale production and testing at its newly expanded Magnetics Center of Excellence. This expansion comes after a series of fruitful developments leading to the completion of construction.

Strengthening U.S. Shipbuilding Industry

With the support of the U.S. Navy, spearheaded by the Surface Combatant Industrial Base Development Initiative, the expansion aligns with national goals to enhance the shipbuilding industrial base. This initiative emphasizes not just increasing production capabilities but also fostering a U.S.-based workforce and revitalizing domestic supply chains, essential for remaining competitive in global markets.

Significant Grant Award

Reflecting their commitment to this initiative, Espey Mfg. & Electronics Corp. was awarded a substantial grant of $7.4 million in fiscal year 2023. This funding is designated for the construction of their new facility, which is vital for enhancing their already impressive testing capabilities. The expansion not only boosts production power but also strategically positions Espey for future growth and scalability.

Leadership Insights

David O’Neil, President and CEO of Espey, shared his enthusiasm regarding this significant milestone: "This new 24,000-square-foot expansion further supports Espey’s market leadership in advanced magnetics systems development. We appreciate the U.S. Navy’s support and view this as a reflection of successful collaboration between the public and private sectors." He emphasized the importance of ensuring a reliable supply of military and industrial-grade transformers and inductors in the long run.

Innovative Business Focus

Espey specializes in the design and production of specialized power supplies and transformers, primarily for military and industrial applications. This expansion reinforces their commitment to delivering advanced solutions that meet rigorous military standards. The company’s innovative approaches in advanced magnetics systems not only strengthen their market position but also fulfill critical national security needs.

Contact Information

For more information, interested individuals can reach out to Kaitlyn O’Neil via email at invest@espey.com.

Frequently Asked Questions

What is the main purpose of Espey’s new facility?

The expanded Magnetics Center of Excellence enables enhanced production and testing capabilities for advanced power supplies.

What initiative supports this facility expansion?

The Surface Combatant Industrial Base Development Initiative helps strengthen U.S. shipbuilding and production industries.

How much funding did Espey receive for this project?

Espey was awarded a $7.4 million grant to support the construction and development of their new facility.

Who is the CEO of Espey Mfg. & Electronics Corp.?

David O’Neil serves as the President and CEO of Espey Mfg. & Electronics Corp.

What types of products does Espey manufacture?

Espey primarily develops specialized military and industrial power supplies and transformers.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

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