WEG makes Portuguese purchase
20 Dec 2002
Brazilian firm WEG has bought a new manufacturing plant in Maia, Portugal, as part of its aim to become the world's largest manufacturer of low voltage electric motors.
The new plant will bring the company closer to its European customers, it says; these represent almost a quarter of its business.
The move is almost counter-intuitive considering the state of the automation market, points out ceo Decio Da Silva: most companies are moving out of Europe to manufacture in Asia.
'[The acquisition] highlights our commitment to European manufacturing,' says Da Silva. 'It is another phase of our growth strategy, building upon 40 years' intensive investment in our business, which has brought us outstanding growth worldwide and taken our global sales past the $600million mark.'
The plant, which previously belonged to EFACEC Universal Motors, is WEG's fourth manufacturing acquisition outside Europe. It will produce ATEX compliant explosion-proof motors and TEFC motors.
