Fuji Electric Acquire SEMEC
Image courtesy of Fuji Electric
Fuji Electric Corp. of America have said they have acquired a majority share of Canadian rail manufacturer SEMEC Electromecanique Inc. The acquisition will expand Fuji’s product portfolio and further its transit-related activities in North America. Fuji will add SEMEC’s engineering expertise, sales channels and service capabilities to its own portfolio of door opening and closing technology, propulsion and auxiliary power supply solutions.
Philip Charatz, President and CEO of Fuji Electric Corp. of America, said:
“SEMEC has a solid reputation for manufacturing quality products, and they are a well-rounded company, skilled at everything from development, to production, to sales. This business model will complement our transit business nicely and will support our long-term growth initiatives in North America.
“This acquisition, coupled with our recent opening of a 37,000 sq. ft. factory in Virginia to develop auxiliary power supply devices for railways, is a testament to our strategic vision for our North American transit business. We have an aggressive 5-year growth plan and are committed to taking the major steps necessary to achieve those goals.”
Re-named Fuji SEMEC Inc.
The deal that allowed Fuji Electric to acquire 51% of SEMEC was signed in February. The new name of the company is Fuji SEMEC Inc. Fuji Electric will add their own portfolio to SEMEC’s designs to widen the portfolio of Fuji SEMEC. Fuji will take advantage of SEMEC’s manufacturing subsidiaries in New York, making their bids on projects relating to the Buy American Act guidelines and other laws and regulations in New York* more robust.
Fuji Electric already provides train door opening and closing devices various customers. They include New York City Transit Authority, Metropolitan Washington D.C. Department of Transportation and Sonoma Marin Area Rail Transit District. It has also delivered auxiliary power units to Washington subways.
*This comes with the obligation to use a certain percentage of parts made in the United States (New York) and use local assembly.