WEG announced the acquisition of the company Antriebstechnik KATT Hessen GmbH (“KATT”), an electric motor manufacturer with headquarters in Homberg, Germany.
KATT was founded in 2002 from a merger of KATT Motoren (founded in 1924) and its new product development subsidiary AKS. Over the years, KATT has built large experience in designing and manufacturing high-speed motors and a strong technological development expertise. The company has two operations, one in Homberg and another in Dresden, and employs around 190 people. Net revenues in 2013 were approximately € 14.4 million.
This is the second acquisition WEG made in Germany in 2014. In February, the company also acquired an electric motor and gearbox manufacturer, Württembergishe Elektromotoren GmbH, in Balingen.
KATT acquisition will allow WEG to expand its research and development activities of special high-speed machines as well as strengthen its market leadership in areas of industrial energy efficiency electric motors. Combined with its existing operations in Germany, WEG will offer even greater competitiveness in the European market, mainly with shorter lead times for special motors.