It is a timely investment for Coractive, which generates 95 % of its revenues abroad. The new and modern building and the advanced equipment that will be set up in the facility will enable the company to increase its production of fiber optic products and to boost output quality.
The expansion will also strengthen the company’s position with current customers and in other high potential markets such as Light Detection and Ranging (LIDAR) laser sensors, which are expected to grow amidst the imminent arrival of autonomous vehicles on roads.
The increased factory capacity aligns well with Coractive’s desire to continuously innovate and to use its expertise in new R&D projects to create research partnerships with various education institutions.
Construction of the complex is expected to begin this summer. Delivery of the new building, which will also become Coractive’s new head office, is expected in late 2022.
Several partners will also be investing in this relocation and expansion project, which is the largest ever carried out by Coractive.