Japanese company Yaskawa Electric Corporation, a world leader in motion control and robotics, has signed a definitive agreement to acquire the Finnish company The Switch, a supplier of megawatt-class permanent magnet generator and full-power converter packages for wind power and other renewable energy applications. The Switch has 7 GW of installed wind power capacity and the company’s sales in 2013 were EUR 46.2 million.
According to Yaskawa, its strong expertise in inverter technology makes it an ideal partner for The Switch. Yaskawa’s global network will be used to promote The Switch’s products in wind power, marine and industrial applications. The Switch brand will continue as its own entity for selected markets and applications.
Natural step forward
The two companies had already entered a strategic collaboration agreement in Autumn 2013, whereby Yaskawa gained access to The Switch’s capability in megawatt-class power generation and The Switch was able to develop its presence in Japan. “This acquisition is a natural next step forward from our initial strategic collaboration. Now we can both gain access to new global markets with our wider range of innovative products,” says Hiroyuki Ougi, Yaskawa’s Corporate Senior Vice President, General Manager, System Engineering Division.
According to Jukka-Pekka Mäkinen, President and CEO of The Switch, the close cooperation with the Yaskawa group means that The Switch can further extend its offering and better serve its customers in a broader range of wind and marine applications as well as numerous other industrial applications. The Switch is set to play a central role as Yaskawa develops its environmental and energy business, according to Finnish business newspaper Kauppalehti.
Source: Yaskawa Electric Corporation, Kauppalehti