Beijer Electronics Acquires the Data Communications Company Korenix
Share:
Beijer Electronics has signed an agreement to acquire a majority of the Taiwanese technology and industrial
data communications company Korenix Technology Co. Ltd. Together with Westermo, a world-leading
offering in the business area Industrial Data Communications (IDC) is formed.
Earlier this year, Beijer Electronics acquired a minority stake in Korenix. At the same time Beijer Electronics´
subsidiary Westermo and Korenix initiated a strategic cooperation regarding product offer and market
activities that has turned out very well. From the beginning the intention was to acquire Korenix and that is
now accomplished.
Korenix is a fast growing company. Annual sales is estimated to about 60 million SEK this year, which is an
increase of 57 percent compared with last year. Profitability is in line with the existing IDC business where
the target is an EBIT of at least 12 percent. Korenix has about 70 employees and headquarters in Taipei,
Taiwan, with several sales offices throughout China and distributors world-wide. We expect continued strong
growth from Korenix.
"We see a tremendous potential in the industrial data communications market, where Beijer Electronics is
determined to be a world leading actor. The combined Westermo and Korenix offer will be one of the
strongest," says Fredrik Jönsson, President and CEO of Beijer Electronics.
Westermo will be a world leading player in the industrial data communications market. The acquisition of
Korenix is an important step in the implementation of this strategy. Westermo will be able to expand the
product range of industrial Ethernet products at a higher pace and widen the product offering to its
distributors. The strong presence in Asia makes it possible to be an active player on the Asian market
through well-established sales channels.
Westermo provides a full range of industrial data communications solutions for demanding applications in the
transport, water and energy markets among others. For more than 35 years Westermo has been at the
forefront of technological development and often pushed the limits of what is technically possible. In order to
provide the best possible support, we have local presence in more than 35 countries through our authorized
distributors and own offices. Since 2008 Westermo has been part of the Beijer Electronics Group, a fast
growing technology company with extensive experience of industrial automation, developing and marketing
competitive products and solutions with focus on the user.
Westermo Data Communications inc
939 N. Plum Grove Road, Suite F
IL 60173 Schaumburg
USA
HENDEL Mark
Phone: +1 847 619 6068
Fax: +1 240 308 1523
mark.hendel@westermo.com
Westermo Teleindustri AB
