Schneider Electric withdraws from Nokian Capacitors
Schneider Electric Oy, the Finnish subsidiary of Schneider Electric, has sold all of its shares in Nokian Capacitors Oy to a group of international investors. In 1999, Nokian Capacitors reported sales of €13 million and had 130 employees.
Nokian Capacitors (NC) offers comprehensive solutions for power factor correction and harmonic filter compensation with capacitors, coreless reactors and control systems. The company primarily serves customers in the high-voltage market.
Schneider Electric has decided to refocus its capacitors lineup through Rectiphase, a Company subsidiary with 1999 sales of €34 million and 190 employees. While Nokian Capacitors' systems are primarily geared to the cyclical very-high-voltage markets, Rectiphase's products are dedicated to industrial, utilities and building markets and offer synergy with Schneider Electric's low-voltage equipment.