Punch Powertrain acquires French Apojee
On January 22th, an agreement was reached regarding the strategic acquisition of the French company Apojee by Punch Powertrain. Apojee is an industry expert in the field of Power Electronics with customers in the German and French Automotive industry (both OEMs and Tier 1s), as well as in motorsports (inverters for Formula E and for Formula One). The company is located in Clermont-Ferrand (FR), with additional offices in Nice (FR) and Munich (DE), counting 50 employees in total.
Expanding R&D capacity and capability
With this acquisition Punch Powertrain is rapidly increasing its R&D capacity in the field of Power Electronics with expertise covering the entire chain from product conception to production support. This contributes to achieving the strategic objectives of Punch Powertrain, namely accelerated EV development and a stronger position in the field of electric and hybrid transmissions.
The acquisition adds a 4th European development center for Punch Powertrain, in addition to the existing ones at its headquarters in Sint-Truiden (BE), Eindhoven (NL) and Flechtorf (DE).
Strong growth curve continues in 2018
In 2017, Punch Powertrain opened 3 new locations. In February, a new Iranian factory was inaugurated, indicating the start of installation of facilities for mass production. In July the German TEG was successfully acquired and in October the new, larger and improved factory in Nanjing (China) became operational. In addition, the workforce at the Eindhoven office grew by 42% to over 100 employees. The headquarters in Sint-Truiden welcomed 321 - or about 37% - new employees in the same year.
In 2018, the first expansion - the acquisition of Apojee - will soon be followed by the opening of a new production plant in Ningbo (China) on February 7th. This new location of 106.859m² will house the production lines of the current products from Nanjing. As applies to production at all international plats, the quality critical main components will be produced in Sint-Truiden.