Vacon becomes part of the Danfoss Group
01 September 2014
The global AC drives manufacturer Vacon has now become part of the Danfoss Group, following Danfoss acquiring over 90% of Vacon shares and voting rights in the company.
The company hopes that the combination of Vacon and Danfoss will see it becoming one of the World's leading players in the drives market.
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. Commenting on the move, he said: "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.
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