Elettronica
Arbitrators' decision enables Danfoss to redeem Vacon shares
Vacon Plc, Stock Exchange Release, at 3.30 p.m. (EET)
Vacon Plc ("Vacon") today received the following information from Oy Danfoss Ab ("Danfoss").
On 15 May 2015, the arbitral tribunal appointed by the Redemption Committee of the Central Chamber of Commerce has confirmed that Danfoss has the right to redeem the minority shares in Vacon and that Danfoss has the right to obtain ownership of the minority shares by providing a collateral approved by the arbitral tribunal for the payment of the redemption price and interest accrued.
VACON PLC
Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and provide customers with efficient product lifecycle services. Our AC drives offer optimum process control and energy efficiency for electric motors. Vacon inverters play a key role when energy is produced from renewable sources. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 32 countries. Further, Vacon has sales representatives and service partners in nearly 90 countries. In 2014, Vacon's revenues amounted to EUR 409.4 million, and the company employed globally approximately 1,600 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki). Vacon is part of Danfoss Group.
Driven by Drives, www.vacon.com
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