News

Electric surge protector makers sold to Greek group

Published

October 15, 2015

Comments

0

Share

Published:

October 15, 2015

Comments:

0

Share

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

Plastic bag free day and Plastic free July – not only consumers' responsibility

Plastic Bag Free Day, Plastic Free July – not all responsibility is on consumers

03 July 2022 - Recent studies revealed that microplastic pollution is taking on new forms and shapes that threaten human health

coal-power-generation-eu

Fossil fuels returned as top energy source in EU power generation in 2021

01 July 2022 - Among renewable sources, the biggest increase in 2021 was seen in electricity produced from solar energy, 13%,

Floating wind farm project unites fishermen, investors in Ireland

01 July 2022 - A joint 2 GW floating wind farm project is the first cooperation in the world between the two opposing sectors.

Voltalia breaks ground Albania biggest solar park Western Balkans Karavasta

Voltalia breaks ground in Albania for biggest solar park in Western Balkans

01 July 2022 - The site for the Karavasta solar park spans 196 hectares in Fier county in Albania's west. The planned capacity is 140 MW.