Displaying items by tag: Vacon
The global AC drives manufacturer Vacon is the main sponsor of the European Challenge Tour golf event to be played at Kytäjä Golf, Hyvinkää, Finland on 14-17 August this year. The Vacon Open will be attended by many noted players and will offer great experiences for golf enthusiasts on site as well as via television in the Nordic countries and Europe.
Vacon Plc has signed a cooperation agreement with Finnish Golf Union and Sponsvision, the promoters of the Finnish Challenge Tour event, giving Vacon rights to the European Challenge Tour tournament name, to be played at Kytäjä Golf, Hyvinkää on 14-17 August. The Vacon Open will be attended, among others, by Ari Savolainen who has already for almost ten years been playing as a pro. He is also a member of Vacon's Team Driven, a team of top athletes.
"Succeeding in sports requires passion, commitment and focus. These qualities are also part of Vacon's brand. We at Vacon want to support world-class sports and offer our customers unique experiences," says Joni Lampinen, Vacon's Brand and Marketing Communications Director.
The Vacon Open will be widely televised throughout the Nordic countries and Europe. "The event will take place later than in the previous years, which in every way gives the event better visibility and it also receives more attention," Lampinen continues.
In the European Challenge Tour events the players can earn points affecting the Olympic golf ranking. This year the season will take in 27 tournaments in 21 different countries.
The global AC drives manufacturer Vacon launches a new product range - VACON® NXP System Drive - during the company's Drives Conference in Dubai, UAE on 16 January 2014. The new product range of standardized AC drives offers customers cost-efficiency, reliability and uniform quality. The system integrators focusing on heavy industry customers can make complex solutions simple with a wide variety of standardized drive modules.
"The VACON NXP System Drive is based on standardized modules, processes and tools as well as on a tested and verified enclosure design. Yet the product is configurable with the help of pre-engineered and tested options. Configurability is one of the product's most compelling features. Furthermore, we can customize the product according to specific customer needs," says Jari Marjo, Vacon's Marketing Director for Premium Drives.
The new product range simplifies installation and commissioning as well as provides end-users with significant life-time benefits, such as decreased maintenance costs and minimized needs for spare parts and training.
The VACON NXP System Drive is based on the VACON NXP and VACON Common DC bus products, which include a large variety of modules in a wide power range. The system drive product range is available in various IP ratings, and CE and UL certifications provide an external verification for the product. The control and power sections of the AC drive are separated, which is an important safety feature. In addition, a wide range of pre-engineered options such as supply units, fieldbus interfaces, and inverter modules are available.
Vacon has a long and proven track record in project business and in providing engineering services globally. As an independent company focusing 100% on AC drives, Vacon does not compete with its partners.
"Vacon is a partner which is easy to work with, and we want to further enhance our cooperation with partners. The VACON NXP System Drive will improve our ability to serve our partners, to be more responsive and able to provide a broader scope of delivery. This allows our partners to focus on the overall solutions while we focus on the AC drives, where we are the experts," Marjo explains.
"To put it simply, VACON NXP System Drive will make complex solutions simple with standardization, and standardized modules bring reliability and improve the total cost of ownership," concludes Marjo.
President Barack Obama paid a visit to the Vacon Research and Development center in Research Triangle Park, NC today the 15th January 2014. The visit was part of the president's travel to North Carolina. The president's tour at Vacon was also accompanied by Ernest Moniz, United States Secretary of Energy.
"We were privileged and honored to welcome President Obama to Vacon. We arranged a tour at our R&D lab, demonstrating how Vacon is actively involved with making the world and our way of living more sustainable in terms of energy efficiency," said Dan Isaksson, vice president of medium voltage drives at Vacon, who was one of the hosts during the visit.
"So the reason I came here today is because we've got to do more to connect universities like NC State with companies like Vacon to make America the number-one place in the world to open new businesses and create new jobs. We want to do that here in North Carolina, and we want to do this all across America," said President Obama during his speech at the North Carolina State University.
Vacon, headquartered in Finland, is the world's largest company focusing solely on AC drives, which are used to control the speed of electric motors to maximize energy efficiency. Vacon's operations in North Carolina are focused on research and development of Vacon's new product line, medium-voltage AC drives.
In November 2013 Vacon published its new vision, The Drives Family where the best people work together to develop the best products, applications and services for customers. "The newly-published Vacon vision is tangible here in North Carolina. The combination of a highly skilled and innovative workforce, a business-friendly climate and the opportunity to collaborate with various companies and universities made the Triangle area a great choice for Vacon," Isaksson said.
Vacon has recently released a video about the company's new vision, financial targets and strategic choices, available here: http://www.youtube.com/watch?v=wseJ2NWjy_U
Vacon has received a final judgment in a court case in China related to the import of components with the wrong customs tariff classification.
The superior court has ordered Vacon to pay compensations totaling appr. EUR 6.3 million. The compensations consist of unpaid customs duties and the already imposed penalty. The court also confirmed the customs tariff to be 10 per cent for the components in question.
Vacon has already made provisions for the court case in China in its financial statements for 2010 and 2011 and thus, the compensations do not have a material impact on Vacon's results. Vacon has already during the appeal process applied 10 per cent customs tariff in its operations although the court of first instance ruled in December 2011 that the customs tariff is 8 per cent. Otherwise, as regards Vacon, the judgment received now is in all material aspects similar to the judgment by the court of first instance.
"It has always been and will always be Vacon's explicit policy in its global operations to comply with both local and international legislation, rules and regulations. We will abide with the ruling and the matter is now finished as far as Vacon is concerned," Vacon's President and CEO Vesa Laisi says.
Vacon's Corporate Governance Statement and Remuneration Statement 2012 also have been published today on the company's website at www.vacon.com.
Global AC drive manufacturer Vacon is announcing the new VACON® 100 FLOW, an AC drive specially optimized for pump and fan applications, at the electric automation fair SPS IPC DRIVES 2012 in Nuremberg, Germany on 27 November 2012. The new AC drive offers versatile flow control for water & wastewater and building automation applications, further strengthening the wide range of the VACON 100 product family.
The VACON 100 FLOW is the newest member of Vacon's third-generation VACON 100 product family. Other products in the family include:
- VACON® 100 multipurpose AC drive
- VACON® 100 X decentralized IP66/UL Type 4X-enclosed AC drive
- VACON® 100 HVAC AC drive for building automation applications.
VACON 100 FLOW combines the core design of VACON 100 with dedicated functions that can benefit flow control processes. The new AC drive also improves the efficiency and redundancy of pump systems, offering advanced features such as Multimaster and Multifollower for controlling multiple pumps simultaneously.
VACON 100 FLOW comes with many user-friendly features such as a fully graphical multilingual display, configuration wizards which enable easy setup of the drive, and intuitive built-in block programming functions which allow the AC drive to be tailored for special needs, such as use in retrofit installations.
Easy system integration is made possible with industry-leading on-board Ethernet-based communication protocols such as EtherNet/IP, PROFINET IO and Modbus TCP, a Safe Torque Off (STO) function and ATEX-certified motor over-temperature protection.
VACON 100 FLOW uses environmentally friendly long-life plastic-foil capacitor technology which ensures highest reliability and lowest possible lifecycle cost.
"Pumps, compressors and fans - these applications benefit massively from improvements in energy efficiency and reduced lifecycle costs. In this respect, we think that VACON 100 FLOW offers much more than any other AC drive on the market today," says Heikki Hiltunen, Executive Vice President, Market Operations.
VACON 100 FLOW is available in the power range of 0.55 kW to 160 kW (0.75 HP to 250 HP) and in a voltage range of 230 V to 500 V.
Vacon's stand number at SPS IPC DRIVES 2012 is 1-420.
Global AC drive manufacturer Vacon rang the NASDAQ Stock Market Opening Bell in New York on Thursday, 15 November 2012.
The visit to the NASDAQ Stock Market in New York and the Opening Bell Ceremony were part of Vacon's upcoming 20th anniversary in the global AC drives business in 2013. Representing Vacon in the Opening Bell ceremony were, among others, Vesa Laisi, Vacon's President and CEO, and Tom Doring, President, Vacon Inc., Vacon's subsidiary in the United States.
"Vacon has become a truly global company in 20 years. The company has sales offices in 27 countries and production units on three continents, for instance here in the United States. AC drives are one of the best products to improve energy efficiency in industry and in civil engineering. It had been estimated that with energy efficient electric motors which are equipped with AC drives approximately 10% of the world's energy consumption can be cut. I think that Vacon has excellent prerequisites to grow in the future, especially when competing or substitute technical solutions do not exist for AC drives and are not within sight," says Vesa Laisi, Vacon's President and CEO.
The opening and closing bells of the NASDAQ Stock Market in New York mark the beginning and end of the trading day. The ceremony featuring the bell ringer is broadcast live on international news channels, and the event can also be seen on the NASDAQ Tower screen in Times Square.
Global AC drives manufacturer Vacon has established a regional center in Singapore. The new center started operations in August 2012.
Vacon's regional center in Singapore ensures that Vacon's entire product portfolio and service network offering are available to customers in the region. The center is also in charge of effective sharing of best practices, know-how and the professional personnel that the company already has in the Middle East, India, South East Asia and Pacific region. This will open up new opportunities for Vacon to gain market share and increase volumes in this region with its huge population and great market potential.
"As a major world trade node with a business-friendly economy, Singapore was a logical location for Vacon to establish a regional center. We are at the heart of the region which is one of Vacon's major growth areas," says Olli Tevä, Vacon's Vice President for Middle East, India, SEA, Pacific.
"Singapore has also a rich supply of skilled and experienced workers, which will help us to continuously improve our customer service in the region. As many of Vacon's global customers have their regional offices in Singapore, it will help us in building seamless cooperation with them. This also reflects Vacon's values: keeping customers and partners at the heart of Vacon's operations," concludes Tevä.
In this stock exchange release Vacon is publishing information included in the interim report that has a significant impact on the value of securities. The full interim report is in the appendix to this release and can be downloaded from the company's website in Finnish at www.vacon.fi and in English at www.vacon.com.
- Order intake totalled MEUR 101.6 (MEUR 83.9), an increase of 21.1 % from the corresponding period in the previous year.
- Revenues totalled MEUR 101.5 (MEUR 91.1), an increase of 11.4 %.
- Operating profit was MEUR 10.2, or 10.1 % of revenues, (MEUR 8.2 and 9.1 %), growth of 23.6 %.
- Net cash flow from operating activities was MEUR 17.4 (MEUR 19.8).
- Earnings per share were EUR 0.45 (EUR 0.36), an increase of 25.8 %.
- Order intake totalled MEUR 307.4 (MEUR 288.4), an increase of 6.6 % from the corresponding period in the previous year.
- Revenues totalled MEUR 285.2 (MEUR 293.2), a decline of 2.8 %.
- Operating profit was MEUR 26.8, or 9.4 % of revenues (MEUR 28.6 and 9.8 %), a decline of 6.4 %.
- Net cash flow from operating activities was MEUR 37.2 (MEUR 20.6).
- Earnings per share were EUR 1.20 (EUR 1.29), down 7.1 %.
Vacon's business developed positively during the third quarter of 2012. Orders, revenues and operating profit increased considerably from the corresponding period in the previous year. The company's profitability, measured in terms of the operating profit percentage, also improved. During the year, Vacon has succeeded in increasing sales to several industrial sectors and consequently succeeded in compensating the sharp fall in the sales of products for renewable energy production.
Growth in Vacon's orders and revenues was strong in the third quarter and in the January - September period especially in China and North America.
Orders received in July - September totalled EUR 101.6 (83.9) million. Orders in the first nine months of the year totalled EUR 307.4 (288.4) million. The order book rose by EUR 22.3 million from the beginning of the year, standing at EUR 58.8 (47.3) million at the end of the period.
Vacon had revenues in the July - September period of EUR 101.5 (91.1) million. Revenues increased 11.4 % from the corresponding period in the previous year. Revenues in January - September were EUR 285.2 (293.2) million, a decline of 2.8 % from the corresponding period in the previous year.
Vacon's revenues rose during the third quarter in line with expectations. January - September revenues were lower than in the period for comparison, which was due to weak demand for products designed for the generation of renewable energy. During the year the company has however succeeded in raising its revenues in other industrial sectors, such as building automation and the marine industries.
Operating profit in July - September was EUR 10.2 million, or 10.1 % of revenues (EUR 8.2 million and 9.1 %). Factors contributing to the improvement in profitability were the increase in revenues in the third quarter, control of costs and savings in material costs. Growth in profitability was restricted however because sales focused on low power equipment.
The operating profit in January - September totalled EUR 26.8 million, or 9.4 % of revenues (EUR 28.6 million and 9.8 %).
The company's balance sheet remained strong and the net cash flow from operating activities was EUR 17.4 million in the third quarter, a decline of EUR 2.4 million from the corresponding period in the previous year. Net cash flow from operating activities in the January - September period totalled EUR 37.2 (20.6) million. Interest-bearing debt at the end of September totalled EUR 22.9 million, but the net debt was negative, EUR -1.7 million. Thanks to the strong net cash flow from operating activities the company's gearing was -1.6 % (10.8 %).
Prospects for 2012
In Vacon's estimation, there are still uncertainties relating to general growth prospects in the economy, and these may affect demand for AC drives in Europe and possibly globally as well. However, Vacon expects demand for products to control electric motors to remain at a good level in many industrial sectors in the final quarter of 2012. Vacon estimates that orders for products for wind power generation will improve slightly in the second half of 2012 from the first half of the year, but order volumes for the whole year will be clearly below their level in 2011.
Market guidelines for 2012
Vacon is retaining the market guidelines for 2012 that it published earlier. Vacon estimates that its revenues will increase and the operating profit percentage excluding one-time items will improve from 2011. In 2011 revenues were EUR 380.9 million and the operating profit percentage excluding one-time items was 9.1 %.
Vacon's target is to achieve revenues of EUR 500 million in 2014. The profitability targets for 2014 are an operating profit of 14 % and a return on equity of more than 30 %.
This release contains certain forward-looking statements that reflect the current views of the company's management. Due to the nature of these statements, they contain risks and uncertainties and are subject to changes in the general economic situation and in the company's business sector.
The Board of Directors of Vacon Plc has decided to utilize the authorization given by the Annual General Meeting held on 27 March 2012 to repurchase the company's shares.
The maximum number of shares to be acquired is 60,000 corresponding to about 0.39% of the total number of Vacon's shares and votes. The repurchases will decrease the distributable capital and reserves of the company. Vacon currently holds a total of 23,227 own shares, corresponding to approximately 0.15% of the total number of the shares and votes.
The share repurchases will start on 8 August 2012 at the earliest, and end by the end of 2012 at the latest. The shares shall be acquired through public trading on the NASDAQ OMX Helsinki exchange at the market price prevailing at the time of repurchase.
Vacon's Board of Directors has an authorization to acquire 1,450,000 of the company's own shares, which is valid until 30 June 2013.