Danfoss completes acquisition of Vacon drives 08 January 2015

Industrial ac drives manufacturer Vacon is now formally part of Danfoss Group, following the latter's public tender offer to acquire its shares last September.

By the end of November 2014, Danfoss had obtained approvals from all relevant authorities, and has now acquired more than 90% of Vacon shares and voting rights in the firm.

Vesa Laisi, president and CEO of Vacon (who now becomes president of the new Danfoss Drives business), says the combination of these two companies creates one of the world's leading players in the drives market.

"Combining two strong and innovative ac drives companies will give customers an even more competitive, innovative and attractive offering," he asserts.

"Joining forces also means that the new business will be able to invest further in both R&D and in the sales force, which is a key success factor in our business.

"Vesa has spent most of his career in the drives industry and he possesses very deep insights into the business. He will use this experience to guarantee a world-leading product portfolio and customer service," adds Niels Christiansen, president and CEO of Danfoss.

Brian Tinham

Related Companies
Danfoss Ltd
Vacon Drives UK Ltd

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