Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 2
As not much news in the first post here are the details, AMSC have purchased a company called the Switch. http://www.theswitch.com/

Press Release is here: http://phx.corporate-ir.net/phoenix.zhtml?c=86422&p=irol...

American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, today announced that it has signed a definitive agreement to acquire The Switch Engineering Oy, a power technologies company headquartered in Finland. The 190-million-Euro acquisition (approximately US$265 million based on current exchange rates) is expected to be immediately accretive and support AMSC's growth to US$1 billion in annual revenues. With sales of both power converter systems and permanent magnet generators to wind turbine manufacturers in China, Europe, Korea and the U.S., this acquisition will diversify AMSC's customer base and channels to market.

Price $265M

Stock down 4%.

Tango
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.