Benzinga | Jul 26, 2021 12:30PM EDT

Clearfield Forges Lease Deal For 319,000 Sq Ft Manufacturing, Warehouse Center

* Clearfield Inc (NASDAQ:CLFD) forged a lease arrangement for a 319,000-square-foot manufacturing and warehouse center to expand its manufacturing capacity in Tijuana, Mexico. The financial terms of the transaction remain undisclosed.

* The center is likely to commence production after CY22 starts. It positions Clearfield to more than triple its manufacturing presence in Mexico.

* It expects the added capacity to support its ongoing revenue growth opportunities.

* Separately, it announced the launch of StreetSmart Collector Box for the multi-dwelling unit (MDU) and multi-tenant unit (MTU) environments.

* The Box resolves one of the critical congestion points in fiber delivery for network operators and building owners for faster fiber delivery to support the variety of services and applications residential and retail customers require.

* Price action: CLFD shares traded lower by 4.82% at $41.01 on the last check Monday.