VAASA, Finland, May 14, 2008 (PRIME NEWSWIRE) -- The Finland-based AC drives manufacturer Vacon will have a topping-out party today at its expanded premises at the Vaasa factory. The factory premises will be enlarged by a total of 9,000 square metres. In addition to global growth, Vacon is also investing in production and is recruiting more personnel in Finland.
"We are expanding our Vaasa factory as the demand for AC drives is growing globally and because we want to invest in production also in Finland," says Jari Koskinen, Vice President, responsible for the Vacon Group's production globally. "For several years, Vacon has been one of the most significant employers in the Vaasa region, and we intend to stay in that position also in future. At the moment, we are looking for personnel to be directly employed by Vacon in production assembly at the Vaasa factory. Vacon also has several other open positions," Koskinen concludes.
The topping-out party will be take place today on May 14 at 2-4 p.m. in the expanded Producta I premises at the Vaasa Airport Park (street address: Huoltokatu 3-5). In addition to Vacon's personnel, present at the topping-out party will be construction workers and designers as well as other cooperation partners. The main contractor of the expansion is Skanska Talonrakennus Oy. One of the main building solution contractors is YIT Kiinteistotekniikka Oy. The building is owned by Varma, the largest private sector pension insurer in Finland, and Oy Vaasa Parks Ab.
The construction work of a total of 9,000-square-metre expansion at Vacon's Vaasa factory was started last year and is to be completed in the autumn of 2008. Also office premises will be expanded by some 5,000 square metres, and the construction work is planned to start at the beginning of 2009.
In addition to the Vaasa factory, Vacon has had production in Suzhou, China, since 2005. After the acquisition of TB Wood's AC drives business was announced in December 2007, Vacon also has factories in the United States, Italy and India. At the moment, Vacon has subsidiaries in 20 countries.
The growth in the AC drives market is based on rising energy prices, increasing automation, and falling electronics prices. Particularly the high energy price encourages investments in AC drives, which bring considerable energy savings. At its shortest, the payback period for investments in AC drives can be much less than 12 months. There are no substitutes to AC drives.
Vacon in brief:
Vacon was established in 1993 from a passion to develop and produce AC drives globally. It is a matter of honour for Vacon to offer customers efficient, reliable and easy to use means for improving process control and saving energy and costs. Vacon's solutions represent clean technology. They can be used to control the speed of electric motors used by industry and municipal engineering, and in power generation using renewable energy. Vacon provides AC drives in the power range 0.25 kW - 5 MW. Revenues in 2007 totalled EUR 232.2 million.
Vacon Group
Further information:
* Jari Koskinen, Vice President, Production, mobile: +358
(0)40 8371 217
* Mika Leppanen, Vice President, Finance & Control, CFO,
mobile: +358 (0)40 8371 235
Press contact:
* Catarina Fant, Director, Brand Management and
Communications, Vacon Group, mobile: +1 717 491 9797, e-mail:
catarina.fant(at)vacon.com