Vacon Plc Honored With Frost & Sullivan Industry/ICE Company of the Year Award.Energy Editors/Business Editors/High-Tech Writers LONDON--(BUSINESS WIRE)--June 8, 2004 Finnish company Vacon !!! This article has been cleaned up in order to make it neutral. The previous author had a relation to the Vacon and had thus written the article as a piece of marketing. Vacon was established in 1993 to produce variable speed AC drives. Plc has been named recipient of Frost & Sullivan's 2004 Industry/ICE (Instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. & Controls and Engineering) Company of the Year Award. The accolade recognizes Vacon's unparalleled excellence in the global electric drives market. "Strong and improving financials, an innovative approach to market, a continued emphasis on technology leadership and a sole focus on being the best at inverter (1) A logic gate that converts the input to the opposite state for output. If the input is true, the output is false, and vice versa. An inverter performs the Boolean logic NOT operation. (2) A circuit that converts DC current into AC current. Contrast with rectifier. technology have all acted to support Vacon's rapid advance over the competition," notes Frost & Sullivan Research Manager Mik Sabiers. Last year, sales registered a 15.2 per cent rise to reach EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 112.3 million, an increase in growth of over twice the level of the previous year. In 2003, Vacon crossed the EUR 100.0 million mark, even as several manufacturers experienced declining sales. The company also recorded a significant advance in operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. , which climbed by 19.2 per cent to EUR 11.8 million in 2003. Apart from improvements in sales and operating profit, Vacon also reported increases in earnings per share, return on investment, R&D spending and augmented its workforce base. Unlike its leading multinational competitors that offer a broad range of products and services, Vacon's focus on AC drives has demonstrated to customers its primary commitment to drive technology. Moreover, as an independent supplier, Vacon has been able to concentrate on identifying and rapidly responding to customer demands and providing effective solutions. The company has consistently sought to expand its regional operations and to strengthen its international presence. In addition to the production sites in Finland Finland, Finnish Suomi (swô`mē), officially Republic of Finland, republic (2005 est. pop. 5,223,000), 130,119 sq mi (337,009 sq km), N Europe. , Vacon has set up eleven sales companies across Europe in the last decade. With the establishment of a subsidiary (projected to commence operations in mid 2004) in China, Vacon aims to penetrate an exciting, new regional market. A collaborative venture to produce Vacon NXL NXL National XBall League NXL Network Exchange Limited low-power frequency converters is set to support Vacon's presence in the lucrative Chinese drives market. Vacon has also focused strongly on its approach to market, targeting multiple channels as a key means to building an effective global presence. For instance, the company has entered into several brand label agreements with leading suppliers in critical regions -- a strategy that has allowed Vacon to rapidly entrench en·trench also in·trench v. en·trenched, en·trench·ing, en·trench·es v.tr. 1. To provide with a trench, especially for the purpose of fortifying or defending. 2. itself in areas where it is yet to establish a firm presence. This strategy has been used to notable effect in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. where Vacon's partnership with brand label customers such as Eaton Electrical has helped it aggressively expand share. Continued investment in product development has underlined Vacon's position as a technology leader. "The company's four different product models of its well established NX product family, all utilizing the same platform, have been designed to ensure Vacon meets all market demands in terms of covering the main supply voltages, a wide power range as well as the majority of application sectors," says Mr. Sabiers. Bespoke be·spoke v. Past tense and a past participle of bespeak. adj. 1. Custom-made. Said especially of clothes. 2. Making or selling custom-made clothes: a bespoke tailor. products, tailored to meet specific customer requirements and applications, testify To provide evidence as a witness, subject to an oath or affirmation, in order to establish a particular fact or set of facts. Court rules require witnesses to testify about the facts they know that are relevant to the determination of the outcome of the case. to Vacon's technological leadership. Nearly two-thirds of Vacon's R&D budget is devoted to designing the software used in its products and customized applications. At the same time, by adapting software to specific needs without changing the product's components, Vacon has been able to ensure that production is maintained at consistently high levels. In recognition, therefore, of its unparalleled excellence in the global drives industry, Frost & Sullivan presents the 2004 Industry/ICE Company of the Year Award to Vacon Plc. About Frost & Sullivan Founded in 1961, Frost & Sullivan is recognized as a global leader in growth consulting. Frost & Sullivan Awards A Sullivan Award may refer to:
About Vacon Plc Founded in 1993, Vacon Plc is a group of companies specializing in AC drives. Vacon Group develops, manufactures, sells and markets Vacon AC drives worldwide to meet the needs of industry and the public sector. Vacon offers AC drives in the power range of 0,25 kW...3 MW. Vacon Plc is one of the fastest growing drives companies in the world, with revenues totaling EUR 112.3 million in 2003. |
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