Espey(US:ESP) Globenewswire·2025-10-22 20:15Core Insights - Espey Mfg. & Electronics Corp. has commenced full-scale production and testing operations at its new Magnetics Center of Excellence, following the completion of construction in April 2025 [1] - The company was awarded a $7.4 million grant in fiscal year 2023 as part of the U.S. Navy's initiative to strengthen the shipbuilding industrial base, which will enhance Espey's testing capabilities and support scalable growth [2][3] Company Developments - The new facility spans 24,000 square feet and supports Espey's leadership in advanced magnetics systems development and MIL-STD testing [3] - Espey's primary business focuses on the development, design, and production of specialized military and industrial power supplies and transformers [4]