AMSC To Expand Product Offering With Acquisition

NAW Staff
by NAW Staff
on March 08, 2007 No Comments
Categories : FYI

Westborough, Mass.-headquartered American Superconductor Corp. (AMSC), a provider of power electronic systems, has agreed to acquire Power Quality Systems Inc. (PQS), a West Mifflin, Pa.-based supplier of static VAR compensators, for an all-stock transaction of approximately $3.8 million.

‘The proprietary technology PQS has developed and marketed over the past 10 years will significantly enhance AMSC's reactive compensation product offerings,’ says Greg Yurek, AMSC's founder and chief executive officer. ‘By combining PQS product offerings with AMSC's control system technology and transmission grid engineering expertise, we expect to be able to more effectively address larger-scale SVC order opportunities from utilities.’

According to AMSC, the acquisition is expected to close in April of 2007.

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