Japan’s Yaskawa to Buy Finnish Wind Parts Maker SwitchChisaki Watanabe
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.