New owner for Magnetek drive products business
A
Yaskawa Electric Europe product story
Edited by the Engineeringtalk editorial team
Jun 5, 2001
Yaskawa has assumed ownership of the MagneTek drive products business unit in New Berlin, Wisconsin, USA, which sells, modifies and services general purpose and high performance AC drives
Yaskawa has assumed ownership and operation of the MagneTek drive products business unit in New Berlin, Wisconsin, USA.
Formerly a part of the Drives and Systems group of MagneTek the unit sells, modifies and services general purpose and high performance AC drives.
Yaskawa is currently the world's largest producer of AC inverter drives and this acquisition is part of its strategy to achieve a 20% global market share of the drive industry.
As part of an effort to get closer to the customer, this transaction will more fully integrate operations and will align management goals and activities to further increase responsiveness and customer satisfaction.
The acquisition represents the third major action Yaskawa has recently taken to further penetrate the US market.
It builds upon the establishment of Synetic Solutions, for semiconductor systems business, in June 2000, and the opening of a new development center in Fremont, California, in October 2000.
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