WATT announces the signing of the contract with WEG

Markt Piesting, November 09th 2011 - WEG, one of the leading international manufacturers of electric motors, signs contract for the purchase of Watt Drive Antriebstechnik GmbH.

WEG logo

“The signing of the contract is an important milestone for Watt Drive. By this chance, the Austrian technology company with its 240 employees worldwide gains a strategic access to new markets.”, explains Mr. Hans Wustinger, Watt Drive, General Manager. “In the following years, a multiplication of sales is aspired. Headquarters, technology centre and production keep staying in Austria. Further investments at Markt Piesting are planned.“

With this acquisition WEG strengthens the range of products for industrial drive systems. “The market claims solutions for combining electric motors, frequency inverters and gears. This results in marked improvements of the operational performance and energy efficiency.”, thus explains Mr. Siegfried Kreutzfeld, WEG Motores, Managing Director. ''Our strategy is to offer a complete range of products and solutions. In this way we can flexibly meet the requirements of our customers as well as increase our growth.”

WEG - founded in 1961, is one of the biggest manufacturers of electric motors and electric devices worldwide with over 21 thousand employees. The gross revenue in 2010 amounted to about € 2,2 billions. The WEG group has its head office and the most important industrial plants in Jaragua do Sul / Santa Catarina, Brazil. Further manufacturing facilities are located in Rio Grande do Sul (Gravataí), Santa Catarina (Blumenau, Guaramirim, Itajaí and Joaçaba), São Paulo (São Paulo, São Bernardo do Campo and Hortolândia), Amazonas (Manaus), Espírito Santo (Linhares).
WEG manufacturing facilities as well stand in Argentina, Mexico, Portugal, South Africa, China and India, next to sales- and trade centres in the USA, Venezuela, Columbia, Chile, Germany, England, Belgium, France, Spain, Italia, Sweden, Australia, Japan, Singapore, India, Russia and the United Arab Emirates.
WEG has recently announced its 2011 third quarter results, showing 11% net revenues growth over 2011. Outside Brazil, growth reached 17%.