The ebm-papst Group, the world market leader in fans and motors, acquired a majority shareholding in Spanish electronics specialist IKOR on 1 January 2016. In doing so, the technology company with its headquarters in Mulfingen (Baden-Wurttemberg) is boosting its competence in the field developing and manufacturing electronics. Moreover, the acquisition is set to strengthen its market position in North America and China, among others.
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IKOR, with its headquarters in San Sebastian/Spain (€60 million turnover / 600 staff), has an R&D center as well as three modern production sites in China, Mexico and Spain. Founded in 1981, the focus of the company is the development and production of customized electronics with extensive knowledge in controls and controllers for industrial applications.
“For us as system supplier, acquiring the electronics specialist IKOR means that our technology expertise and know-how is enhanced and boosted even further”, explains Rainer Hundsdörfer, chairman of the ebm-papst Group management. “The additional production capacities especially in China and Mexico lead us to expect new market potential and thus further growth”.
IKOR chairman Miguel Angel Sierra: “Under the ebm-papst umbrella, we shall be expanding and increasing our technological leadership even further. The access to the global market coming with it opens up new opportunities to enhance our growth plans.”
Prior to the transaction, the two companies already enjoyed a successful co-operation. It was agreed to keep silent on the purchase price.
Source: <a href="http://www.ebmpapst.com/" target="_blank">ebm-papst</a>