Siemens Acquires Robicon
Siemens Energy and Automation is expanding its medium voltage drives portfolio and global offering with this acquisition. The acquisition includes the stock of Robicon's foreign subsidiaries in Shanghai, China; High Wycombe, U.K.; Sao Paulo, Brazil; and Edmonton, Alberta, Canada. Robicon's U.S. operations employ approximately 340 people. Worldwide employment totals 470.
Siemens states the purchase of Robicon's assets will strengthen its portfolio of offerings in AC drives and industrial power control, as well as provide greater access to global markets for the Robicon product lines.
SE&A's president and CEO Aubert Martin has a drives background, so I'm not totally surprised to see this acquisition announced. Also, Robicon has been in Chapter 11 of the bankruptcy code, so it really needed a savior. This should be a good thing for the employees, customers and industry.
5:21:15 PM 
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