Electric surge protector makers sold to Greek group


October 15, 2015





October 15, 2015




Two Slovenian companies producing electric surge protector components were taken over by the German and Greek group, which makes protector systems, business daily Finance said.

Details were not revealed, according to an article published by Slovenia Times. The owner believes that many synergies can be created; together the companies have a lot of intellectual capital and patents. The strategic acquisition of surge protection manufacturer and innovator Iskra Zaščite expands Raycap’s offering in state-of-the-art surge protection technology, bringing a whole new suite of products and solutions to customers worldwide,” said Kostas Samaras, chief executive of Raycap.

Varsi, metal oxide varistor (MOV) developer and largest European manufacturer, will grow and will be invested in to strengthen its position as an independent supplier to the surge protection industry, he stated. The investor secures facilities like wind power plants, airport radars, and railways, Samaras added.

No major staffing changes are planned. Iskra Zaščite and Varsi have a total of 250 employees, while Raycap has 450 in Greece, Germany, the United States and Romania. “Our goal in Ljubljana is growth,” Samaras said. Raycap, founded in 1987, is owned by Kostas Apostolidis. Last year it generated EUR 160 million in revenue; combined with the Slovenian companies the figure stands at EUR 200 million, the article said.

Electric surge protectors are used in large systems, mainly produced by big global players such as ABB, General Electric and Siemens, for which it is easiest to buy the entire surge protector system from a single producer, Finance also said.

Related Articles

OMV Petrom sustainable fuels green hydrogen Romania

OMV Petrom to produce sustainable fuels, green hydrogen in Romania

19 June 2024 - The Petrobrazi refinery will become the first major producer of sustainable fuels in Southeast Europe, OMV Petrom said

DTEK subsidiary DRI buys 126 MW solar power project Romania

DTEK’s subsidiary DRI buys 126 MW solar power project in Romania

19 June 2024 - Renewable energy company DRI acquired its third project in Romania. The Văcărești solar farm is planned to have 126 MW in capacity.


Iberdrola plans Portugal’s first wind-hydro hybrid power project

18 June 2024 - A 274 MW wind farm will be linked to the Tâmega hydropower complex in Portugal's biggest hybrid energy project, says Iberdrola


Sweden opts against subsea interconnector with Germany over power price concerns

18 June 2024 - The Hansa PowerBridge subsea interconnector would have facilitated renewable electricity transmission from Scandinavia to Germany