Ownership change at VEM
VEM Chinese family investor buys VEM and wants to maintain the brand as well as all the sites
VEM, manufacturer of electric drive systems, special motors and special machines, changes the owner. The Merckle family has sold its shares acquired in 1997 to a Chinese family investor. If the Chinese and German authorities accept the agreement, sale is expected to take effect in the summer of this year. It covers all current locations of the electrical machine manufacturer in Germany and abroad.
“For us, it is a good feeling to know that the Chinese family investor has a great strategic interest in preserving the VEM brand,” said Managing Director of VEM Group Dr. Torsten Kuntze and Falk Lehmann, Managing Director of VEM Holding. “We were able to convince ourselves of the seriousness of this intention and the competence of the investor in discussions and company visits.”
As a result of the expected access to the Chinese market, VEM expects a more stable sales of the products.
The change of ownership is not expected to result in any changes for employees at the various locations as well as for customers and partners, the management emphasizes. VEM will be also in future “Made in Germany”.
However, details will be communicated, if the sale will be approved by all competent authorities.
Facts and Figures
- VEM is a globally active, medium-sized, independent company with around 1,500 employees.
- Produced and designed are controlled electric drive systems, special motors and special machines with a power spectrum from 0.06 kW to 42 MW as well as components of the drive technology and power generation.
- Locations in Germany are Dresden, Wernigerode and Zwickau.
- Currently, around 30 million electric machines are under the VEM brand. They drive ships, urban and thoroughfares, chemical plants and rolling mills. Generators from VEM generate electricity in hydroelectric and wind power plants.
- The brand VEM has been in existence since 1947. For its systematic care and guidance the brand association VEM e. V., founded at the end of 1961, is still responsible.
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