PR90535

DORTMUND, Germany, July 9, 2021, /PRNewswire=KYODO JBN/--

Solid state motor powerhouse Solcon Industries and leading drive technology

specialist IGEL Electric are planning to combine their strengths and merge

under the brand SOLCON IGEL – POWERED.

SOLCON IGEL – POWERED will be a leading force in the industry, with the merger

accelerating growth and maximising the organisation's geographic coverage,

while remaining focused on delivering world-class customer support and enhanced

logistics.

The combined organisation will present a broader portfolio of complimentary

products, services and solutions under a shared vision and joint growth

strategy. (http://www.solconigel.com/)

Itai Zifroni, CEO of Solcon Industries, said "joining forces will significantly

increase the capabilities, size, and geographic breadth of our business. We

have identified substantial synergies between us that will generate greater

revenues, combine talent and technology, and drive global reach, while also

enabling us to reduce our cost base. We believe the merger provides an

incredible opportunity that will benefit Solcon and IGEL customers, our

employees and our entire network of distributors around the world".

Michael Kleiböhmer, CEO of IGEL Electric agreed: "The timing for this merger is

just right. Our clients are serving the global market with installations all

over the world, and SOLCON IGEL – POWERED will be an even more attractive

partner as we will be able to better support the installations, wherever they

are. Combining our technical know-how will create even better products and

applications. This really is a win: win situation for all stakeholders and

partners."

About Solcon Industries

Solcon Industries Ltd (www.solcon.com) is a power electronics company that has

designed, developed, and manufactured industrial electronic systems for more

than 40 years. As a global industry leader in soft starter technology and motor

control, Solcon provides solutions for the toughest applications in all major

industries.

Solcon's field-developed design criteria ensure long-term product reliability

and provide future-focused innovative solutions. This approach has allowed the

company to serve more than 76 countries worldwide.

About IGEL Electric

IGEL(R) Electric GmbH (www.igelelectric.de) was founded in 2001, originally a

division of "FANAL" Group Wuppertal, and has over 100 years of combined

experience in drive technology. As a specialist in drive technology, IGEL

integrates stand-alone motors and systems in addition to supplying solutions

that are tailor-made for individual solutions, based on advanced designs.

For further information, please contact:

Dina Slutzkin, Global Marketing Manager

dina.s@solcon.com

Logo - https://mma.prnewswire.com/media/1557589/Solcon_Igel_Logo.jpg

SOURCE: Solcon Industries Ltd and IGEL(R) Electric GmbH