Weg has signed a contract to acquire Volt Electric Motors ⁇ u, which produces industrial and commercial electric motors within Saya Holding.
The purchase amounted to $88 million, and the payment was announced to be made after the purchase.
With the agreement, Weg will have full control of Volt ⁇ , as well as a team of 690 employees.
In the statement made by Weg, the acquisition took place in line with WEG ⁇ 's growth strategy for industrial and commercial engines. The acquisition will allow the company to expand its presence and product offering in highly competitive and strategic markets such as Eastern Europe, the Middle East, Asia and North Africa.
The agreement between the companies will be implemented after the approval of the regulatory bodies and the fulfillment of the closing conditions.
