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Vacon now part of Danfoss Group

8 January 2015

The 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 Vesa Laisi, President and CEO of Vacon.

"The dedicated drives focus unites both Vacon and Danfoss and distinguishes the two companies from competitors. 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," says Niels B. Christiansen, President and CEO of Danfoss.

For more information, please contact:

Vacon Drives UK Ltd
18 Maizefield
Hinckley Fields Industrial Estate
Hinckley
Leicestershire
LE10 1YF
Tel:  +44 1455 611515
Fax:  +44 1455 611517
Email: sales@vacon.co.uk
Web:  www.vacon.com
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