WEG announced the signing of an agreement with Transformadores e Serviços de Energia das Américas S.A. (“TSEA”) for the acquisition of one of its transformer factories located in the city of Betim, State of Minas Gerais, Brazil.
Built in 2013, the factory sits on 32,500 square meters (349,827 sq. ft.) of manufacturing facilities and state-of-the-art equipment and machinery. Employing 250 people, the factory is specialized in the manufacture of power transformers, shunt reactors and power autotransformers with voltage class up to 800kV and power ratings up to 500MVA.
According to Mr. Carlos Diether Prinz, WEG Transmission & Distribution Managing Director, “the acquisition of this factory allows WEG to enjoy a privileged position to meet the major infrastructure investments that are expected to be implemented in the American continent for the coming years”
The transaction is subject to certain conditions and to the approval from the competition authorities (CADE - Administrative Council for Economic Defense).