Japan’s Yaskawa to Buy Finnish Wind Parts Maker Switch

(Corrects location for Yaskawa in story originally published on July 2.)

July 2 (Bloomberg) -- Yaskawa Electric Corp., a Japanese machinery maker, will acquire The Switch Engineering Oy, a Finnish wind turbine component manufacturer.

Kitakyushu, Japan-based Yaskawa will acquire all the shares of The Switch, except the Finnish company’s own shares, Yaskawa said in a statement today. Financial terms, including the number of shares to be bought, weren’t disclosed.

The move follows a September 2013 agreement between the two companies to distribute each other’s wind turbine generators and converters, according to the statement.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Jason Rogers, Abhay Singh