Volvo Technology Transfer sells TranSiC AB holding
Volvo Technology Transfer (VTT) has sold its share of TranSiC AB to the US company Fairchild Semiconductor Corporation. VTT first invested in TranSiC AB shares in autumn 2006 and has since been an active shareholder.
TranSiC AB, with ten employees, designs, develops and sells silicon carbide transistors for various applications including the growing market for hybrid vehicles.
Following the sale, TranSiC will become a part of Fairchild and will continue its operations in Kista, Sweden.
“We are proud to have contributed to the growth of TranSiC into a world-leading company in its field,” says Erik Hedenryd, Investment Manager at VTT. “Fairchild’s acquisition of TranSiC is a confirmation of the company’s technical competence and entrepreneurship.”
TranSiC is a high-tech company that has developed silicon-carbide bipolar junction transistors (BJTs), which enable excellent performance over wide temperature intervals, thus providing improved efficiency in energy conversion.
“Together with the founders of TranSiC, Volvo Technology Transfer, Industrifonden and Midroc New Technology have demonstrated how it is possible in a volume-driven, competition-exposed industry such as electronic components, to make successful investments by matching the right level of technology with the right application area, in this case hybrid systems for vehicles and solar energy,” says Johan Carlsson, President of Volvo Technology Transfer.
The transaction will not have a material impact on the Volvo Group’s earnings or financial position.
April 18, 2011
For further information, contact:
Johan Carlsson, President, Volvo Technology Transfer, telephone: +46 (0)31 3229013
Erik Hedenryd, Investment Manager, Volvo Technology Transfer, telephone: +46 31 66 91 81
About Volvo Technology Transfer
Volvo Technology Transfer AB focuses on developing and supporting new businesses relevant to the Volvo Group. Part of this effort is to invest in companies and projects that are technologically and commercially attractive. The company also supports the development of entrepreneurship and innovation at Volvo.
The Volvo Group is one of the world’s leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications and aerospace components. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 100,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. In 2010 annual sales of the Volvo Group amounted to about SEK 265 billion. The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.