9377024_sGERMANY: Fans and motors manufacturer EBM-Papst has acquired a majority shareholding in Spanish electronics specialist IKOR.

Founded in 1981, IKOR specialises in the development and production of customised electronics with extensive knowledge in controls and controllers for industrial applications.

The company is headquartered in San Sebastian with three modern production sites in China, Mexico and Spain. With a turnover of €60m, IKOR has 600 staff.

EBM-Papst sees the acquisition boosting its competence in the field of developing and manufacturing electronics and strengthen its market position in North America and China, among others.

“For us as system supplier, acquiring the electronics specialist IKOR means that our technology expertise and know-how is enhanced and boosted even further,” explained Rainer Hundsdörfer, chairman of EBM-Papst. 

“The additional production capacities especially in China and Mexico lead us to expect new market potential and thus further growth”.