Some of the largest manufacturers across industries are expanding their operations in the United States to mitigate tariffs and higher costs.
While drugmakers, chip companies and steel firms have pledged billions of dollars as tax incentives open up for domestic expansion, other notable projects across industries are also underway.
Here are some notable manufacturing deals, expansions and openings from August.
Acquisitions
Rocket Lab closes $275M acquisition of Geost, expands national security capabilities
Aerospace manufacturer Rocket Lab has acquired the parent holding company of Geost, a developer of electro-optical and infrared sensor systems for national security space missions.
The $275 million deal, first announced in May, includes $125 million in cash and 3,057,588 shares of Rocket Lab stock, according to a news release. It also has an additional payout of up to $50 million if Geost’s business hits certain revenue targets.
Founded in 2004, Geost is a maker of technologies that support missile warning and tracking, tactical intelligence, surveillance, reconnaissance and other capabilities designed for U.S. space assets.
The acquisition is complementary in that it allows Geost to leverage Rocket Lab’s resources to scale production of its sensors, while enhancing Rocket Lab’s payloads for national security projects.
Rocket Lab said it will gain Geost’s product assets, manufacturing facilities, laboratories, intellectual property and product inventory as part of the deal.
Lyten to buy most of bankrupt battery giant Northvolt
Lithium-sulfur battery maker Lyten has agreed to buy the remaining European assets of Northvolt, which filed for bankruptcy earlier this year.
The deal includes Northvolt’s operations in Sweden and Germany, as well as all remaining intellectual property, according to a news release. Multiple members of the company’s leadership team also plan to join Lyten.
No financial terms were disclosed. However, the deal includes assets previously valued at $5 billion, such as 16 gigawatt-hours of existing battery manufacturing capacity and more than 15 GWh of capacity under construction, as well as Europe’s largest research and development center for batteries.
Lyten is expecting the deal to close in the fourth quarter. It has announced three other acquisitions of Northrop assets since November 2024.
Fireplace maker HNI to expand its furniture unit with $2.2B acquisition of Steelcase
HNI, a manufacturer of workplace furnishings and residential fireplaces, has agreed to acquire Steelcase for $2.2 billion in a move that expands its office furniture brand portfolios and dealer networks.
The sale, if approved by regulators, would be a combination of cash and stock. Upon closing, HNI shareholders will own about 64% and Steelcase shareholders will own about 36% of the combined company, according to a news release.
The companies moved forward with the deal citing a range of benefits, including complementary geographic footprints and dealer networks, faster delivery times and stronger earnings.
The acquisition is expected to close by the end of the year. The combined company will continue to be led by HNI CEO Jeffrey Lorenger, and HNI’s board of directors will expand to include two of Steelcase’s current independent board members, according to the release.
Electronics maker Hubbell to pay $825M for DMC Power, enhancing its utilities products
Hubbell has agreed to acquire DMC Power, a provider of connectors and tooling for utility substation and transmission markets, for $825 million in cash.
The acquisition will enhance Hubbell’s utility solutions portfolio and aligns with the company’s strategy to go for “high growth, high margin” businesses as datacenter buildouts and aging infrastructure drive investment demand over the next several years, Hubbell CEO Gerben Bakker said in a statement.
DMC Power is a designer and manufacturer of connector technology systems for high voltage power infrastructure. It has more than 350 employees, manufacturing plants in Carson, California, and Olive Branch, Mississippi, and a number of distribution facilities across North America.
The deal is expected to close by the end of the year. Shelton, Connecticut-based Hubbell generated $5.6 billion in revenue last year from its utility and electrical products. DMC Power is on track to make $130 million in revenue next year.
Expansions and openings
Luxury toilet maker increases US production with opening of Georgia factory
Toto recently opened a $224 million manufacturing facility in Morrow, Georgia, allowing it to shift production of its luxury toilets from Asia to North America.
The 363,393-square-foot facility will strengthen Toto’s regional supply chain and enable faster delivery of its “high-end, one-piece toilets,” according to a news release. Sourcing from Asia had resulted in extended lead times.
The Morrow site is capable of manufacturing 300,000 units per year, increasing the company’s U.S. production capacity by 150%.
Production is scheduled to begin this fall. Toto also has facilities in Lakewood, Georgia, and Mexico.
Drugmaker Genentech breaks ground on $700M facility in North Carolina
Genentech, a subsidiary of Switzerland-based healthcare giant Roche Group, has broken ground on its latest manufacturing site in Holly Springs, North Carolina.
The 65,000-square-meter facility will support the production of Genentech’s next generation obesity treatments and is part of a larger $50 billion commitment from Roche to further expand its footprint in the United States, according to a news release.
The $700 million project will create more than 1,900 jobs for the area. It is scheduled to be ready by 2029, and has room for future expansion.
Merrill Steel picks Arkansas for fabrication plant
Merrill Steel said it will invest more than $32 million in a new facility in Osceola, Arkansas, creating 108 jobs over the next three years.
The Schofield, Wisconsin-based steel fabrication company chose Mississippi County for its next location due to state and local partnerships and access to raw steel, according to a news release. It will operate at the former Denso Manufacturing Arkansas site.
Merrill Steel is a supplier of complex structural steel and heavy plate fabrication. Construction on the Osceola factory is scheduled to begin in the fourth quarter.
It will be Merrill Steel’s fourth manufacturing facility in the Midwest.
Materials science company invests $60M in South Carolina facility expansion
Arclin will invest more than $60 million to expand its operations in Dillon, South Carolina, creating over 30 jobs, the materials science company said.
The expansion will add 60,000 square feet and a production line to Arclin’s existing facility to meet growing customer and market demand, according to a news release. The Alpharetta, Georgia-based company makes building and polymer materials, such as overlays, panels and fertilizer ingredients, for agriculture, construction and other industries.
The renovations are scheduled to be ready by July 2026. South Carolina’s Coordinating Council for Economic Development approved job development credits and awarded a rural infrastructure grant of $250,000 for the project.
