In order to enhance and optimize the competitiveness of TECO's products, the Board of Directors of TECO Motors approved the acquisition of 100% of the shares of Motovario S.p.A. on July 31 at a cost of 186 million euros, equivalent to 6.5 billion NTD. At the same time, TECO's global market layout has been strengthened and its revenue share in Europe has been increased, which has added another growth momentum to TECO's performance and brought significant revenue injection.
TECO points out that Motovario S.p.A. was established in 1965 and is headquartered in Italy, with its main business being the production and sale of power transmission related products such as gear reducers and motors. Motovario S.p.A. has production bases in Italy and Spain with highly automated production capacity and over 150 distribution channels in 60 countries, and after the acquisition of Pujol, a Spanish reducer manufacturer with a long history, in 2014, it has successfully expanded the application fields of its products, and its future growth performance is expected.
In addition, with Motovario S.p.A's complete distribution network and stable profitability, TECO can serve as the cornerstone for TECO to stand in the European market and quickly increase TECO's effective coverage and market share in Europe.
In recent years, TECO has been actively laying out system solutions for industrial automation and continues to expand its revenue growth through its technological advantages, combining the Group's parallel and vertical integration of resources, providing customized services, and complementing its core products and systems to create a win-win situation with its customers. With this merger and integration, TECO will extend from motor products to power transmission systems, formally entering the power transmission industry, upgrading from the past "product" to "system" sales model, and completing TECO's development blueprint of "Power Transmission System" to provide customers with complete drive solutions, as well as grasp the business opportunities of industrial automation and intelligent development. As the beginning of TECO's layout of Industry 4.0
