Korenix sells minority interest to Beijer

  • July 07, 2010
  • Korenix Technology
  • News
July 7, 2010 - Korenix Technology entered into a strategic alliance with Westermo. As a basis for this cooperation Beijer Electronics Group, of which Westermo is a part, acquires a minority share of Korenix Technology. The two companies’ products and technology complement each other well and aim to jointly develop Industrial Data Communication solutions for worldwide users. Korenix is well acknowledged for product innovation for industrial networking solutions, including layer 2 and layer 3 Ethernet switches, Power Over Ethernet and Power Over Ethernet Plus solutions, and Industrial embedded networking solutions, and received many international awards for the leading technologies. Westermo is a leading brand within industrial data communications with a wide range of very robust data communication products such as network switches and routers, ADSL and 3G routers, fiber optic modems, GSM/GPRS and analog line modems. "I see a great potential in this cooperation and together we will be able to offer competitive solutions to a broader market", says Lars-Ola Lundkvist, CEO of Westermo.Beijer Electronics is a fast growing technology company with extensive experience of industrial automation and robust data communication, developing and marketing competitive products and solutions with focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group with subsidiaries in 14 countries. “It’s a perfect match between Korenix and Beijer Electronics, with compliment in product and technologies. Korenix can benefit from Beijer Electronics’ experience and reputation in the market to expand its market exposure,” says Spencer Lee, President of Korenix Technology. Beijer Electronics' CEO, Fredrik Jönsson, comments the strategic alliance: “Korenix is a high-growth company. In a short amount of time they have developed a high-quality product range and are expected to more than double their turnover in the coming years. The cooperation allows us to expand our business in industrial data communication with a broader technology and product offering and geographic coverage.” Learn More

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