Beijer Electronics acquires part of Korenix Technology Co., Ltd

Beijer Electronics has acquired a minority share in Korenix Technology Co., Ltd, forming a strategic alliance for broader product range and stronger sales.

01/12/2011


Beijer Electronics has acquired a minority share in the Taiwanese technology and data communications company Korenix Technology Co., Ltd. The company has sales of over 60 million SEK per year and about 70 employees. The acquisition is an important part of Beijer Electronics´ growth plan in Asia and for business area Industrial Data Communications (IDC).

Beijer Electronics acquires 37% of Korenix, reportedly becoming the largest shareholder in the company. Korenix develops and sells industrial data communication products and is based in Taiwan with own sales companies in China. The acquisition opens a strategic collaboration between Korenix and Beijer Electronics´ subsidiary Westermo who has a strong base in Europe.

The cooperation gives both companies:

  • Broader product range, through complementary products
  • Stronger sales channels in Asia and Europe
  • Mutual exchange of technology
  • Opportunity to purchase common components
  • Opportunity for more efficient product development

Beijer Electronics' CEO, Fredrik Jönsson, comments the strategic alliance:

"Korenix is a high-growth company. In a short amount of time they have developed a high-quality product range and are expected to more than double their turnover in the coming years. The cooperation allows us to expand our business in industrial data communications with a broader technology and product offering and geographic coverage." Korenix, founded in 2004, has a technology and product portfolio and a market focus that complements Westermo well. Through this cooperation Westermo gets access to the broader industrial data communications market with cost effective solutions for market segments such as industrial automation, building automation, and the security and surveillance sector. Korenix will be able to offer an increased product range of robust products for network environments with very high demands on reliability and redundancy.

"I see a great potential in this cooperation and together we will be able to offer competitive solutions to a broader market", says Lars-Ola Lundkvist, Business Area Manager of IDC.

"It's a perfect match between Korenix and Beijer Electronics, with complementing products and technologies. Korenix can benefit from Beijer Electronics' experience and reputation in the market to expand its market exposure", says Spencer Lee, President of Korenix Technology.

The three founders of Korenix will remain as shareholders and continue to run the company in their current roles. The acquisition of a share in Korenix is Beijer Electronics´ second acquisition in Taiwan. Five years ago a company was acquired within business area HMI Products.

www.beijerelectronics.se

Beijer Electronics Inc.

- Edited by Amanda McLeman, Control Engineering, www.controleng.com



No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
2014 Product of the Year finalists: Vote now; Boiler systems; Indirect cooling; Integrating lighting, HVAC
High-performance buildings; Building envelope and integration; Electrical, HVAC system integration; Smoke control systems; Using BAS for M&V
Pressure piping systems: Designing with ASME; Lab ventilation; Lighting controls; Reduce energy use with VFDs
Case Study Database

Case Study Database

Get more exposure for your case study by uploading it to the Consulting-Specifying Engineer case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.

These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.

Click here to visit the Case Study Database and upload your case study.

Protecting standby generators for mission critical facilities; Selecting energy-efficient transformers; Integrating power monitoring systems; Mitigating harmonics in electrical systems
Commissioning electrical systems in mission critical facilities; Anticipating the Smart Grid; Mitigating arc flash hazards in medium-voltage switchgear; Comparing generator sizing software
Integrating BAS, electrical systems; Electrical system flexibility; Hospital electrical distribution; Electrical system grounding
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.