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Teco Electric & Machinery to acquire Italy-based Motovario
 

Max Wang, Taipei;

Adam Hwang, DIGITIMES [Monday 3 August 2015]

Own-brand electric machinery and consumer electronics maker Teco Electric & Machinery will acquire a 100% stake in Motovario S.p.A., a Italy-based maker of gear reducers, motors and other power-transmission products, at EUR186.8 million (US$205 million) in a bid to extend development and production from motors to systems in line with development of industry 4.0 (industrial automation), according to Teco.

Motovario has highly automated production lines in Italy and Spain as well as 150 sales agents in 60 countries, Teco said. The acquisition will be finished as early as the end of 2015.

Through the acquisition, Teco can step into power transmission systems and thereby develop industrial smart and automation solutions, Teco indicated. In addition, Teco can move into the Europe market through Motovario and help the latter tap the Southeast Asia market, Teco said.

Link, http://www.digitimes.com/news/a20150802PD200.html

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