A powerful combination – IGEL Electric and Solcon Industries join forces
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
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