EFACEC sold to Caravels to form alliance with Virginia Transformer
USA, Georgia: EFACEC's Rincon facility assets have been sold to Caravels LLC, a private investment company who will form a strategic alliance with Virginia Transformer Corp.
USA, Georgia: EFACEC’s Rincon facility assets have been sold to Caravels LLC, a private investment company who will form a strategic alliance with Virginia Transformer Corp.
The deal between Virginia Transformer Corp. and Caravels LLC will create the nation’s second-largest transformer business by capacity and size and third-largest in revenues.
The alliance will allow Virginia Transformer to have the flexibility to sell large power transformers for the eastern United States, Canadian and Central American markets with lower transportation costs. It will also give Virginia Transformer and Caravels more buying power to reduce material costs, reports Savannah Now.
“This alliance will make EFACEC stronger through (Virginia Transformer’s) presence in the North American energy market, complementing EFACEC’s positions in the oil and gas and industrial segment.” Prabhat Jain, president of Virginia Transformer.
Source: Savannah Now
Image: EFACEC (Copyright)
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