International Leader in Power Electronics Systems Expands U.S. Operations and Market Presence Wytheville VA.
MTC Transformers announced today that its Wytheville division has been acquired by Schaffner Group, based in Luterbach, Switzerland. The acquisition, which includes the Wytheville Dry-Type transformer division and the Roanoke Sales office, had an estimated 2011 fiscal year sales of $16 million. MTC Transformers retains its Louisville, OH large liquid-filled transformer remanufacturing operations and a spin-off company Evatran, the developers of Plugless Power charging for electric vehicles.
“Our expertise will help Schaffner grow in the American market,” says Tom Hough, CEO of MTC Transformers. “Integration into the global Schaffner Group also opens up attractive opportunities for our customers and employees.”
“With the acquisition of MTC Transformers,” says Alexander Hagemann, CEO of the Schaffner Group, “we are expanding our technological expertise in the area of Power Magnetics and our market presence in North America. This will strengthen Schaffner’s position as a global partner in the international market for power electronics systems. With our broad range of products as well as development and production capacities around the globe, we are on course to meet our strategic goal of achieving a leading market position in the area of Power Magnetics by 2015.”
The new company, Schaffner-MTC Transformers will retain MTC Management and all current employees. This strategic acquisition will supplement their technical leadership and provide a foothold to the North American market. Alexander Hagemann and Tom Hough will hold a press conference regarding the acquisition at MTC Transformer’s Wytheville headquarters at 823 Fairview Road on September 1 at 4:00PM EDT.
About the Schaffner Group
The Schaffner Group is the international leader in the development and production of solutions which ensure the efficient and reliable operation of electronic systems. The Group’s broad range of products and services includes EMC/EMI components, harmonic filters and magnetic components as well as the development and implementation of customized solutions.
About MTC Transformers
MTC Transformers, founded in 1985 in Wytheville, VA has grown from a regional transformer manufacturing and repair shop into a global supplier of specialized transformers and magnetics. Their transformers power many of the subway systems throughout North America, supply excitation power to many of the world’s largest generators, are used on the US Navy’s air craft carriers and submarines, and provide power for a variety of renewable energy projects including hydro, solar, wind and fuel cell applications.
MTC Transformers has been recognized by the Virginia Business Magazine, being selected as Small Success story of the year in 2007, and named to the Fantastic 50 list in 2008, 2009 & 2010. Inc magazine has also recognized the company as an Inc 500/5000 award winner for the last four years.