Croatia, Zagreb: Croatian manufacturer of distribution and special transformers KONČAR – D&ST has signed a contract to acquire a majority stake in the Polish transformer manufacturer Power Engineering Transformatory based in Czerwonak, Poznan.
The main business activity of the Polish company is design, production, marketing and maintenance of medium power transformers up to 63 MVA and a voltage of up to 145 kV, Končar stated in a press release.
Currently, the company manufactures and sells transformers exclusively on the Polish market.
With this acquisition, KONČAR – D&ST will be in the ownership of 74% of the shares and the investment will go towards procurement of new equipment, restructuring and modernization of the facility and human resources.
According to the press release, the company will also invest its know-how to further develop and create a modern and competitive medium power transformers factory in Poland.