Vacon enters the medium-voltage AC drives market

GlobeNewswire Europe

Vacon Plc, Stock Exchange Release, 28 November 2013 at 8.00 (EET)

The global AC drives manufacturer Vacon will take its product offering to new heights with medium-voltage AC drives. In contrast to Vacon`s current low-voltage products, medium-voltage AC drives typically operate on voltages of several kilovolts and at power levels of several megawatts.

Vacon is a full-scope AC drives company which focuses 100% on AC drives, offering products from small powers to multi-megawatt solutions. The global medium-voltage AC drives market is growing, and is currently estimated at around 3 BUSD.

"Entering into the world of medium-voltage AC drives is a remarkable milestone in Vacon`s history of producing reliable, high-performance products for our customers. The medium-voltage technology in AC drives is a natural extension for Vacon, since the power levels of machines and systems have increased over the years," says Vesa Laisi, Vacon`s President and CEO.

The first deliveries of Vacon`s medium-voltage AC drives are scheduled to take place in 2014. Customer industries that typically use medium-voltage drives include marine & offshore, mining, metals and oil & gas. Some examples of applications for these drives include propulsion, pumps, fans, conveyors and hoists.

"As a matter of fact, the initiative for taking the step towards medium-voltage AC drives came from some of our current customers. This is a great opportunity for us to expand our own product portfolio. We are strengthening our strengths and keeping our focus on product leadership. At the same time, we help our customers expand their own business by offering them a wide voltage and power range with Vacon`s familiar state-of-the-art technology," says Dan Isaksson, VP, Medium Voltage Drives at Vacon.

Vacon 20/20 Capital Markets Day

Vacon is hosting a Capital Markets Day in Helsinki today, 28 November 2013. In the event Vacon`s management will present the company`s vision, new long-term financial targets and redefined strategy in detail. Further information about the Capital Markets Day and Vacon`s strategy is available at www.vacon.com/investors.

Further information:

  • Vesa Laisi, President and CEO, Vacon Plc, phone +358 (0)40 8371 510, vesa.laisi(at)vacon.com
  • Sebastian Linko, Director, Corporate Communications and Investor Relations, Vacon Plc, phone +358 (0)40 8371 634, sebastian.linko(at)vacon.com

Vacon in brief:

Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and provide customers with efficient product lifecycle services. Vacon offers optimum process control and energy efficiency for various industrial sectors such as building automation, marine and offshore, mining and metals, water and wastewater, and renewable energy. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 29 countries. Further, Vacon has sales representatives and service partners in nearly 90 countries. In 2012, Vacon`s revenues amounted to EUR 388.4 million, and the company employed globally approximately 1,500 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki).

Driven by Drives, www.vacon.com

Distribution:

NASDAQ OMX Helsinki
Financial Supervisory Authority
Main media




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vacon Oyj via GlobeNewswire

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