Yaskawa acquires Canadian drives and controls company
Yaskawa acquired Wermac Electric, a Canadian company that specializes in drives and controls in the oil and gas industry.
The Drives and Motion Division of Yaskawa America Inc. (YAI) has acquired the business and operations of Wermac Electric Ltd. in Calgary, AB, Canada.
Wermac is a 25-year partner with Yaskawa and has been applying Variable Speed Drives and Electrical Controls in the Oil and Gas industry. The acquisition of Wermac continues Yaskawa's growth in key vertical markets. The Oil and Gas market in particular presents high requirements for quality, packaging, and special software.
The new division will be known as Yaskawa Wermac and will be located at the former Wermac Electric facility in Calgary, AB. Yaskawa Wermac is now a division of Yaskawa Motoman Canada, which is a subsidiary of Yaskawa America, Inc. All key personnel have been retained.
Yaskawa America Inc.
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Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey