WEG Takes Giant Step! Acquires Electric Motor Manufacturer in Turkey for $88 Million and Strengthens Global Leadership

Written by Fabio Lucas Carvalho

Published on 12/09/2024 at 10:23

Updated on 12/09/2024 at 10:34

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WEG Surprises The Market With The Acquisition Of An Electric Motor Manufacturer In Turkey For US$ 88 Million, Expanding Its Global Presence And Dominance In The Sector

WEG, a giant in the electric equipment sector, announced the acquisition of Volt Electric Motors, a prominent Turkish manufacturer of industrial and commercial electric motors, which is part of the Saya Group.

The transaction value is 88 million dollars, to be paid upon completion of the operation and subject to customary price adjustments for this type of negotiation. The company’s official announcement was made on Thursday, September 12.

Founded in 1987, Volt Electric Motors is a vertically integrated company with a production capacity of 1 million motors per year. With a significant presence in the Turkish market and exports to Europe, the Middle East, and Central Asia, Volt operates a 27,000 m² factory dedicated to the production of industrial and commercial motors with power up to 450 kW.

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Strategic Investment By The Brazilian Giant

WEG, giant in the electric equipment sector

The acquisition of Volt Electric Motors will allow WEG to expand its presence and product offerings in highly competitive and strategic markets, such as Eastern Europe, the Middle East, Central Asia, and North Africa.

Volt’s location in Izmir, Turkey, is a crucial strategic factor, providing easy access to these markets due to its developed road logistics and proximity to two major ports. This enables significantly faster transit times for WEG’s customers and operations in the region.

The completion of the transaction is subject to the fulfillment of precedent conditions, including the necessary regulatory approvals.

WEG clarified that the operation will not grant withdrawal rights to shareholders, as it does not fit into the hypotheses provided in Article 256 of Law 6.404/1976. Furthermore, the amount paid for the acquisition does not represent a relevant investment for WEG, and the average price of each share does not fit into the situations described in item II of the mentioned article.

With this acquisition, WEG strengthens its position in the global market and increases its capacity to meet the growing demand for electric motors in various strategic regions.

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WEG Takes Giant Step! Acquires Electric Motor Manufacturer in Turkey for $88 Million and Strengthens Global Leadership

WEG Surprises The Market With The Acquisition Of An Electric Motor Manufacturer In Turkey For US$ 88 Million, Expanding Its Global Presence And Dominance In The Sector

Strategic Investment By The Brazilian Giant

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WEG Takes Giant Step! Acquires Electric Motor Manufacturer in Turkey for $88 Million and Strengthens Global Leadership

WEG Surprises The Market With The Acquisition Of An Electric Motor Manufacturer In Turkey For US$ 88 Million, Expanding Its Global Presence And Dominance In The Sector

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