Schaffner Group makes acquisition in USA

  Enquire / contact me

Purchase agreement for dry-type transformer operations of American manufacturer MTC Transformers

Schaffner Group makes acquisition in USA
Schaffner Group makes acquisition in USA

The Schaffner Group has signed an asset purchase agreement to acquire the dry-type transformers operations of American transformer manufacturer MTC Transformers, Inc. as of September 1, 2011. Under the transaction, Schaffner is acquiring MTC Transformer's Wytheville production site, Virginia (USA), and Roanoke based sales office, North Carolina (USA), as well as the well-established MTC Transfomers brand. The acquisition will strengthen the Schaffner Group's market position in North America and add a production site in the USA to its international manufacturing organization which already consists of production centers in China, Germany, Thailand and Hungary.
Founded in 1985 MTC Transformers, Inc. specializes in the development, manufacturing and maintenance of transformers and other power magnetics. Its Wytheville operations are focusing on dry-type transformers for medium-voltage applications in the rail technology, renewable energies and energy-efficient drive systems sectors. With around 70 employees the division estimates sales to be USD 16 million and an EBIT margin in the upper single digit range in 2011 fiscal year. The acquisition price is around USD 14 million.
"With the acquisition we are expanding our technological expertise in the area of Power Magnetics and our market presence in North America. This will strengthen Schaffner's position as a global partner in the international market for power electronics systems. With our broad range of products as well as development and production capacities around the globe, we are on course to meet our strategic goal of achieving a leading market position in the area of Power Magnetics by 2015," says Alexander Hagemann, Chief Executive Officer of the Schaffner Group. Tom Hough, Chief Executive Officer of MTC Transformers, states: "Our expertise will help Schaffner grow in the American market. Integration into the global Schaffner Group also opens up attractive opportunities for our customers and employees."

Posted on September 6, 2011 - (244 views)
by
Related articles
Hammond Power Solutions at SPI and NECA
BASF Corporation leads a commercial demonstration with ExxonMobil
Measuring the Position of Hydraulic and Telescopic Cylinders
Smart Plastics for Smart Maintenance
Stop wasting time on network commissioning reports
"Change is a Collection of Processes''
Novotema Celebrates its 40th Anniversary
TEL 10WI Series
AI Convention Europe Presents KAPTAIN
Honeywell Becomes Principal Member of ODVA
Abu Dhabi International Petroleum Exhibition & Conference
Connect Everything with eFactory
Sensing Innovation in Process and Control
Mechatronic Products
SENSORS & INSTRUMENTATION for Test Measurement & Control
IIoT I/O Series
Hannay Reel Hose and Cable Reels
SPS IPC Drives 2018 - Free Ticket
Level Switches
Ultrasonic Flowmeter for Air
Compact True Color Sensor
A new performance class in inductive displacement measurements
Positioning System
Torque Limiter
Ultrasonic Flowmeters for Compressed Air
Isolated 4-port PSE Controller
Multifunction Panel Meters DCM20 series
450 Watt Medical Power Supplies
Portable Emissions Analyzer E8500 plus
Photovoltaic Fuse Holder
Measuring the Position of Hydraulic and Telescopic Cylinders
AI Convention Europe Presents KAPTAIN
Ultrasonic Flowmeters for Compressed Air
JDN Mini 24/07
Motion Controller from FAULHABER with STO shutdown
Temperature control technology
Multi-tasking Communication Server
Guidance Systems for Higher Duty XTS Applications
Advanced Humanoid Robot Hand
Virtual Personal Assistant ODP S3