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Charlotte Stonestreet
Managing Editor |
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Vacon now part of Danfoss Group
08 January 2015
Global AC drives manufacturer Vacon is now part of the Danfoss Group, effective 1 December 2014. In September 2014, Danfoss announced a public tender offer to acquire all the shares of Vacon. By the end of November, Danfoss obtained approvals from all the relevant authorities, and has now acquired more than 90% of Vacon shares and voting rights in Vacon.
The combination of Vacon and Danfoss will create one of the world's leading players in the drives market, leveraging the best of the two companies. Vesa Laisi will be the President of the new business segment named Danfoss Drives. He will also continue as the President and CEO of Vacon Plc.
"Combining two strong and innovative AC drives companies will give customers an even more competitive, innovative and attractive offering of AC drives. 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," says Laisi.
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