WEG announced this week the acquisition of the company Transformadores Suntec S.A.S. (“Suntec”), a transformer manufacturer with headquarters in Medellin, Colombia.
Founded in 1979, Suntec has wide experience in manufacturing oil and dry transformers. Counting on manufacturing facilities of around 5000 square meters and employing 140 people, the company’s revenues in 2014 were approximately US$ 18 million.
As stated by WEG Transmission & Distribution Managing Director, Mr. Carlos Prinz, “Suntec has built a strong brand in the Colombian market, recognized for its competitiveness, product quality and delivery time”. ”. Added to our current production platforms in Brazil, Mexico and South Africa, this new acquisition will allow us to move forward in the transmission and distribution business internationalization project.
The transaction is subject to certain conditions and the approval from the competition authorities in Colombia.