Danish multinational Danfoss has acquired AXCO-Motors, a Finnish technology leader in electric solutions for applications like maritime vessels and off-highway vehicles. According to Danfoss, the integration of AXCO-Motors' operations will significantly strengthen its mobile electrification capabilities. The Finnish company will be integrated into Danfoss Editron, a business within the Danfoss Power Solutions segment.
Electrification is a global megatrend and holds very strong potential in fighting pollution and climate change, according to Eric Alström, President, Danfoss Power Solutions. The new acquisition is a response to the growing customer demand for electric solutions to reduce emissions and benefit from the efficiency and productivity gains that AXCO-Motors' can solutions bring.
AXCO-Motors delivers a wide range of adaptable direct-drive permanent magnet motors and generators for several gearless industrial applications. Its products include hydropower generators, marine motors and generators, and windpower generators. Kimmo Rauma, Vice President, Danfoss Editron, views mobile electric solutions as a highly relevant technology in markets that are being challenged to reduce emissions and pollution.
"AXCO-Motors is the leading expert in the large-scale power range up to 6 MW and thus an important and complementary technology to our current product range, and our mission to end pollution," says Rauma in a statement.
This is Danfoss' third acquisition of a Finnish company in recent years. In 2017, it acquired Visedo, a manufacturer of smart hybrid and electric drivetrains for electric vehicles in the marine industry, commercial vehicle and heavy-duty machinery sectors. In 2014, Danfoss acquired the Finnish AC drives manufacturer Vacon, creating one of the world's leading players in the drives market.
Both AXCO-Motors and Visedo were headquartered in Lappeenranta, eastern Finland. In a recent interview with the Finnish business magazine Talouselämä, Rauma explains that decades of work by Lappeenranta University of Technology in the field of electric motors and electric drive technology has created unique competence and companies in the area.
"The world is moving in a direction where this technology is now extremely valuable. The long-term work has brought results. This kind of know-how and talent is not available anywhere else in the world," says Rauma, who was also the founder of Visedo.
Finland's long tradition of close-knit cooperation between companies, universities and research institutions creates attractive opportunities for international companies, according to Jari Tielinen, Senior Advisor, Bioeconomy & Cleantech, Invest in Finland.
"The latest acquisition by Danfoss is a great example and a recognition of the world-class expertise developed in Lappeenranta through the fruitful interaction of the academic, research and business worlds," he says.
Senior Advisor, Cleantech, Invest in Finland
jari.tielinen (at) businessfinland.fi
+358 (0)400 849 270
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