WEG announces the acquisition of Autrial S.L. in Spain
WEG S.A. (Bovespa: WEGE3 / OTC: WEGZY) announced today acquisition of Autrial S.L., a manufacturer of electrical panels for industrial equipment and plants, headquartered in Valencia, Spain.
Autrial was founded in 1977 as a family owned business, and has extensive experience in manufacturing of electrical panels for switch, control and protection of electric motors, distribution panels, panels for generator sets, panels for photovoltaic systems, among others.
The manufacturing plant occupies an area of 10,000 square meters, employing around 122 people. Net revenues in 2014 were of approximately ¿14 million.
According Mr. Manfred Peter Johann, WEG Automation Managing Director, "this acquisition will leverage WEG¿s automation products business in Europe and will allow us to advance our business unit internationalization project."
The transaction is subject to certain conditions.
Investor Relations Officer