Product category:
Motors and Variable speed drives
News Release from: Vacon
Edited by the Processingtalk Editorial
Team on 14 May 2008
Ambitious growth targets for Vacon
AC drive manufacturer Vacon has set ambitious targets for growth by 2012: sales of EUR500million and operating profit of more than 14% of revenues
Vacon held a Capital Markets Day on 13 May, when the company management gave more detailed information about these goals "We have high goals, but the markets are looking extremely favourable
This article was originally published on Processingtalk on 27 Oct 2005 at 8.00am (UK)
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Demand for energy-efficient solutions is growing strongly, and so is the renewable energy market.
In addition, the purchase of the AC drives business of TB Woods in the USA gives us a significant boost towards achieving these targets" says Vacon President and CEO Vesa Laisi.
The Vacon goal is to achieve revenues of EUR 500 million and operating profit (EBIT) of more than 14 per cent by 2012.
It has set an annual target of more than 30 per cent for return on equity (ROE).
The AC drive is a key product in enhancing energy usage and utilising renewable energy sources.
By focusing one hundred per cent on AC drives, Vacon aims to grow profitably and considerably faster than the average rate of growth in the sector.
"Wind turbine, buildings and machinery applications are the fastest growing AC drive markets, and Vacon is strongly involved in all these," says Mr Laisi.
Presentations on the Capital Markets Day were given by President and CEO Vesa Laisi, Executive Vice President Heikki Hiltunen, Mika Leppanen, Vice President, Finance and Control, and Product Marketing Director Hans Carlsson.
Insight from the customer viewpoint was given by Dr Peter Whitworth, Vice President, Engineering at multinational Converteam.
Mr Laisi reported on topics including the potential for energy saving with AC drives, market structure, the Vacon main market segments, and the use of AC drives in wind turbines.
Mr Leppanen looked at the impact on Vacon profitability of the purchase of the AC drives business of TB Woods and of the fluctuations in the exchange rate of the US dollar.
Mr Hiltunen discussed the growth factors for Vacon, and Mr Carlsson presented their extensive product offering.
The presentations given at the Capital Markets Day will be available on the Vacon Internet site under "Investors".
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