BEMAC Corporation (Headquarters: Imabari City, Ehime Prefecture, Japan; President: Masato Oda; hereinafter referred to as “our company”) is pleased to announce the completion of the acquisition of shares in The Switch Engineering Oy (Headquarters: Vaasa, Finland; hereinafter referred to as “The Switch”) and its subsidiaries, finalized on February 20th.

The Switch, known for its innovative permanent magnet machines (PMMs), direct-current distribution converters (DC-Hub), marine AC drives (single drive), and high-speed solid rotor induction motors (SRM), was previously under the ownership of Yaskawa Europe Holding AB, a Yaskawa Electric Corporation subsidiary. This strategic acquisition, led by BEMAC Corporation in partnership with Mitsui & Co., Ltd. (headquarters: Chiyoda-ku, Tokyo, Japan; President: Kenichi Hori) as a minor shareholder, followed a tripartite share purchase agreement finalized last October.

The Switch’s advanced PMM technology is integral in shaft generators for large ships, propulsion motors for electric vessels and wind power generators. It stands out for its efficiency, compactness, and low maintenance costs, offering a sustainable alternative to traditional generators and motors. This aligns with the global push towards decarbonization, especially the International Maritime Organization’s objective of net zero greenhouse gas emissions by 2050, positioning us for significant growth in this sector.

In line with this acquisition, we are excited to announce that all products from The Switch will henceforth be marketed under the BEMAC brand. This unification symbolizes our commitment to delivering top-tier products and services under the BEMAC umbrella, further enhancing our global presence. We remain dedicated to offering game-changing and green electrification technologies and products, and to continuing our legacy of exceptional flexibility, customer-focused development and ultimate customer satisfaction.