Modula – 2021 Foreign Direct Investor of the Year
Headquartered in Italy, Modula manufactures automated storage solutions designed to maximize space and optimize picking. In 2015, the company invested $10 million in a plant in Lewiston which currently employs nearly 120 people. With two manufacturing plants (Lewiston, ME and Franklin, OH), the company is the only manufacturer of this type of automated storage solution made in the USA. Their Vertical Lift Module (VLM) acts like a giant vending machine, making anyone with a warehouse a potential customer. This wide range of customers allowed Modula to weather the economic impacts of COVID-19. Revenue lost in the automotive and aerospace industry was mitigated by an increase in demand from pharmaceutical and food and beverage customers. Modula is seeing a strong Q4 and continues to hire new employees in Maine.