Concentric closes the EMP transaction – on track to beat sales target for electrical products
Pursuant to the announcement on 26 October, 2021, Concentric AB (“Concentric”) today announces the completion of the acquisition of Engineered Machined Products, Inc. (”EMP”). With the acquisition of EMP and the structural shift towards a carbon neutral reality in transport systems and support infrastructures, Concentric is now confident it will beat its ambitious target of having 20% of group sales stemming from electrical products by 2025.
David Woolley, CEO of Concentric comments:
“This is the single most important event for Concentric since the listing in June 2011. Whatever the technology, whether fuel cells, battery or hybrid, we can now offer solutions that are universally applicable. The underlying growth in this segment is attractive, in addition we can use our global presence to push EMP’s product portfolio while we at the same time complement our offerings to increase the value proposition to existing and new customers.”
EMP employs over 400 people and has a long track record starting 2006 of developing and commercialising e-pumps and other electrical products and systems. EMP has an extensive in-house electrical engineering team, allowing them to have significant involvement in the design and validation processes. EMP also produces a range of mechanical pumps which will complement Concentric’s existing product portfolio and demonstrates an impressive ability to leverage robotics and automation techniques in their manufacturing processes.
For additional information please contact David Woolley, telephone +44-121-445 6545
Concentric AB is an innovator in flow control and fluid power, supplying proprietary systems and components to the world’s truck, agricultural machinery, construction equipment and industrial applications end-markets. The company has a global manufacturing presence including in the UK, USA, Germany, Sweden, India, China and Argentina. Concentric’s focus is to develop world class technology with innovative solutions that meet the sustainability needs of our customers. Concentric offers engine products including lubricant, coolant and fuel pumps, hydraulic products encompassing gear pumps and power packs, and finally several key technologies for the fast growing market for electrical and hybrid powertrains. The Group has a turnover of circa MSEK 1,500 and circa 700 employees.