WEG Electric Corp. has acquired CG Power USA Inc. (“CG”), Washington. The transaction is limited to the Power and Distribution Transformers business.
The new company, WEG Transformers USA Inc., has been established as the U.S. headquarters for the WEG Transformer business unit.
The company, previously controlled by the Indian Group Crompton Greaves, specializes in the design, engineering, manufacturing, and service of power and distribution transformers.
The two manufacturing plants in Washington have more than 450 employees.
According Mr. Peter Barry, president of WEG Electric Corp., the acquisition, in addition to complimenting the WEG product line, will increase the company’s market share in North America.
“CG has a significant market share in transformers for utilities and renewable power. This acquisition will allow us to rapidly advance in the transmission and distribution business in North America,” said Barry.
“We are very pleased to add these manufacturing plants in Washington, and look forward to building our presence in the local community. There is a long history of manufacturing world class transformers here in Washington, and we are committed to continuing this tradition and providing opportunity for growth. We extend a warm welcome to the employees joining the WEG family.”
The Brazilian owned WEG Electric Corp., has a strong presence in the U.S., with other manufacturing facilities in Georgia, Indiana and Minnesota.