VAASA, Finland, May 20, 2008 (PRIME NEWSWIRE) -- The Finland-based AC drives manufacturer Vacon is establishing a firmer foothold in Central Europe by setting up a new subsidiary in the Czech Republic. The official opening of the office, located in Prague, will be celebrated on May 20. The inaugural speech will be given by Hannu Kyrolainen, Finland's Ambassador to the Czech Republic.
"The Czech economy is strong, growing at a higher rate than the EU economy on average. We are eager to increase our market share in the Czech Republic, where AC drives are becoming a standard solution due to the increasing demand for energy savings and optimized process control," says Heikki Hiltunen, Executive Vice President, Vacon.
"Energy, water treatment and the OEM (Original Equipment Manufacturer) business are major industry sectors in the Czech Republic, and Vacon also has great growth potential in other industries," says Roman Patzelt, Managing Director of Vacon s.r.o., Vacon's new subsidiary in the Czech Republic. "Our strengths are a wide product portfolio, open software for all applications, and the ability to serve our customers locally in sales, technical support, maintenance and service. It is also a benefit to our customers that we concentrate only on AC drives."
Located in the heart of Europe, Vacon s.r.o. will serve customers in the Czech Republic and Slovakia. The contact information is: Vacon s.r.o., Kodanska 1441/46, 110 00 Prague 10, Czech Republic.
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