Yaskawa acquires The Switch Engineering Oy, manufacturer of generators for wind power

The Switch Engineering Oy was valued US$ 265 million in 2011

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On July 2, 2014 Yaskawa Electric Corporation acquired all shares of The Switch Engineering Oy, which are not owned by the Switch. The acquisition price was not announced, however, AMSC in 2011 had agreed and later cancelled to acquire The Switch for US$ 265 million. Therefore we can expect the acquisition price to be at least of this order if not much higher.

Vacon plc held approx. 14% of The Switch directly and another approx. 5% through the investment fund Power Fund I. On July 1, 2014, Vacon plc sold all these shares to Yaskawa Electric Corporation.

Finnish Industry Investment sold a holding of The Switch to Yaskawa.

The Switch Engineering Oy “Bringing you power”

The Switch Engineering Oy makes permanent magnet generators (PMG) and full-power converters (FPC) for wind turbines (1 MW – 8 MW and higher), marine applications and other industrial applications.

The Switch was founded in 1996, and in 2013 reported sales of € 46.2 million (US$ 53 million), and employed 175 people. The Switch headquarters are in Vantaa, Finland.

The Switch Engineering Oy was valued US$ 265 million in 2011

On March 14, 2011, American Superconductor Corporation AMSC signed a definitive agreement to acquire The Switch for US$ 265 million. However, on October 31, 2011, AMSC announced the cancellation of this agreed acquisition and paid € 14.2 million as break-up fee, a sum which had already been paid as an advanced payment of the acquisition price.

Yaskawa Electric Corporation (株式会社 安川電機)

Yaskawa Electric Corporation was founded on July 16, 1915, and headquarters are in Kitakyushu in the West of Japan.

Sales by business segment (FY2014: Fiscal year ended March 2015)

  • Motion control: YEN 188.1 billion (US$ 1.571) 47%
  • Robotics: YEN 136.0 billion (US$ 1.136 billion) 34%
  • System Engineering: YEN 41.0 billion (US$ 0.342 billion) 10%
  • Other: YEN 35.1 billion (US$ 0.293 billion) 9%
  • Total: YEN 400.153 billion (US$ 3.3 billion) 100%

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