Vacon invests in solar energy products
(Thomson Reuters ONE) -
Vacon Plc, Stock Exchange release, 25 May 2010 at 9.30 am:
AC drive manufacturer Vacon is holding a Capital Markets Day in London today,
where company management will provide information about prospects in the AC
drive market, growth factors, and the company's plans in the solar energy
market.
At the capital markets day Vacon will report that it has obtained knowhow in the
solar energy sector by acquiring a small Spanish company that specializes in the
design of solar energy inverters. This is to speed up Vacon's entry into this
market, and Vacon is currently recruiting experts in the field. The company's AC
drive technology can be applied in the production of solar energy and the
company is participating in several application projects. Vacon considers solar
energy to be an extremely attractive market and a vital element in the company's
growth.
Renewable energy generation is boosting the global AC drive market. According to
estimates by research organizations, investment in the production of renewable
energy will rise from its 2009 level of some USD 90 billion to USD 150 billion
by 2020. Investment in solar energy in particular is expected to increase
sharply in the next few years. In fact, demand for solar photovoltaic systems
positively surprised market expectations in 2009. Products made by Vacon are
used in wind power and solar energy generation. Vacon will launch its new
product family especially designed for solar energy generation in the second
half of 2010.
During the capital markets day Jukka Kasi, Vice President, Corporate Development
at Vacon, will present the company's plans for developing its operations in the
renewable energy sector. Other speakers at the event include Vacon President and
CEO Vesa Laisi, Executive Vice President Heikki Hiltunen, CFO Eriikka Söderström
and Sebastian Linko, Director, Corporate Communications. Mr Laisi will explain
the importance of AC drives in the clean technology sector, Mr Hiltunen will
talk about the growth factors for Vacon, and Ms Söderström will report on the
financial state of the company.
"Vacon's business operations are experiencing an increasingly clear division
into two growth areas. One is the long established field of controlling electric
motors and the other is renewable energy applications. The AC drive market is
going to grow strongly for a long time into the future and Vacon aims to grow
faster than the market. Renewable energy will play a major role in achieving our
goals," states Vacon President and CEO Vesa Laisi.
The capital markets day presentations will be available after 1.00 pm today on
our website at www.vacon.com
Presentations.
Analysts and investors are invited to attend Vacon's Capital Markets Day in
London, on Tuesday, May 25th, 2010, starting at noon until 3 pm (12:00 - 15:00)
local time. Venue: The Vineyard, Vinopolis Wineworld, address: No 1 Bank End,
London. Registration opens at 11:30 am, and presentations will be held from
12:00 to approximately 15:00. Lunch will be served at the beginning of the
event. Attendance: If you would like to attend Vacon's Capital Markets Day,
please contact IR Johanna Koskinen, Phone: +358 40 8371 528.
Vacon Plc
For further information, please contact:
* Vesa Laisi, President and CEO, Vacon Plc, tel. +358 40 8371 510
* Sebastian Linko, Director, Corporate Communications, Vacon Plc, tel. +358
40 8371 634
Vacon in brief
Vacon's operations are driven by a passion to develop, manufacture and sell the
best AC drives in the world - and nothing else. AC drives are used to control
electric motors and in renewable energy generation. Vacon has R&D and production
units in Finland, the USA, China and Italy, and sales offices in 27 countries.
In 2009 Vacon had revenues of EUR 272 million and globally employed 1200 people.
The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki
stock exchange.
Driven by Drives, www.vacon.com
Distribution:
NASDAQ OMX Nordic Exchange, Helsinki
Main media
Financial Supervisory Authority
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Unternehmensinformation / Kurzprofil:
Datum: 25.05.2010 - 08:31 Uhr
Sprache: Deutsch
News-ID 21388
Anzahl Zeichen: 0
contact information:
Town:
Vaasa
Kategorie:
Business News
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