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Vacon CEO Laisi will lead merged business with Danfoss

08 December, 2014

The Finnish AC drives manufacturer Vacon is now part of the Danfoss Group, after Danfoss secured more than 90% of Vacon’s shares and voting rights, and obtained approvals from all the relevant authorities. Danfoss launched its bid for Vacon in September 2014.

Vacon’s CEO, Vesa Laisi, has been appointed president of a new combined business, to be called Danfoss Drives. Danfoss is also reorganising the rest of the Group. It says that the closing of the Vacon deal paves the way for establishing four strong and global segments.

“The clear ambition is to be a leading player in the drives market,” says Danfoss Group president, Niels Christiansen. “We see that true value is created together. This is why we will create a new business, where people work together to develop the best products, applications and services for our customers.

“The dedicated drives focus unites both Vacon and Danfoss and distinguishes the two companies from their competitors,” he adds. “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 world-leading product portfolio and customer service.”

Laisi says that “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.”

Laisi: appointed president of the combined Danfoss and Vacon drives businesses

“Today, we have very strong businesses and with the new structure, we can unite these in even stronger entities to further strengthen our market positions,” states Christiansen. “This is the right outset for the next part of our strategic journey with a strong focus on growth.”

The family-owned Danfoss Group employs 22,500 people in more than 100 countries and operates in areas including refrigeration, air conditioning, heating and mobile machinery, as well as motor controls. It is also active in the fields of renewable energy and district heating for cities and urban communities.

Since its founding in 1993, Vacon has focused on developing, manufacturing and selling AC drives and inverters. In 2013, its revenues amounted to €403m and it employed around 1,600 people worldwide. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 31 countries.

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