Zest WEG acquires Hawker Siddeley
Zest WEG group has acquired unit- and minisubstation and distribution transformer manufacturer Hawker Siddeley Electric Africa for an undisclosed amount.
The transaction would enable the group to widen its product offering to include 50 kVa to 20 MVA distribution and minisubstation transformers.
The group currently supplied large transformers, typically above 20 MW, into the African market.
“It made absolute sense to fill this gap in our product range via an acquisition that would give us instant access to a product segment in which, historically, we could not compete,” Zest WEG Group CEO Louis Meiring said.
The acquisition was also in line with Zest WEG’s localisation ambitions, as well as the localisation requirements of State-owned power utility Eskom and other parastatals.
Zest WEG was contributing to its parent company, the Brazil-based motor and controls manufacturer WEG’s, aims of accelerating the global group’s 2020 strategic plan, which would see the expansion of WEG’s worldwide network of businesses and manufacturing plants, increase sales by 17% year-on-year and achieve a turnover of $10-billion by 2020.
Zest WEG planned to invest in new equipment and training for the newly acquired subsidairy.
“With the roll-out of WEG technology, our new company will become a state-of-the-art manufacturing facility with the latest design and manufacturing capabilities,” Meiring commented.
The acquisition was subject to conditions precedent.
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