WEG acquires Volt Electric Motor
WEG has signed agreements to acquire Volt Electric Motor, a Turkish manufacturer of industrial and commercial electric motors.
Image for illustration purposes.
Brazil, Jaraguá do Sul: WEG has signed agreements to acquire Volt Electric Motor, a Turkish manufacturer of industrial and commercial electric motors, a subsidiary of the Saya Group. The acquisition value is $88 million (Enterprise Value – EV), to be paid after the transaction is completed, subject to common price adjustments for this type of operation.
Volt is a vertically integrated company with a production capacity of 1 million motors per year. It was founded in 1987 and has a strong presence in the Turkish market and exports to several countries, mainly in Europe, the Middle East, and Central Asia.
With the agreement, WEG will assume full control of Volt, which has a 27,000 m2 factory for designing and manufacturing of industrial and commercial electric motors, with output power up to 450 kW. WEG will incorporate a team of 690 employees. Volt’s location in İzmir will facilitate WEG’s access to various markets by land and sea.
Rodrigo Fumo, Managing Director of Industrial Motors at WEG, said: “Volt has a strong presence in Türkiye, where we started our own operation in 2022, in addition to proximity to regions with potential demand for our products and services, such as Eastern Europe, the Middle East, Central Asia, and North Africa”.
Source: WEG
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