The French provider of electrical specialties and graphite-based materials, Mersen announced it has agreed to acquire France-based designer and manufacturer of laminated busbars, Idealec for an undisclosed sum.
According to Mersen, Idealec, which supplies laminated busbars to the wind and solar industry, currently has around 50 employees and an annual turnover of €7 million. Through this transaction, Mersen said, it aims to improve its R&D and innovation capabilities, and strengthen its position in the power electronics market.
Meanwhile, in its financial results for the first quarter of this year, Mersen has reported 50% growth for its solar business. The group’s revenue for the first three months of 2018 reached €208.6 million, up 11% from 201.9 million in the same period a year earlier. “Business was especially brisk in China and South Korea, bolstered by solar, electronics and process industries,” Mersen said.
Sales in the Advanced Materials segment, which totaled €116.0 million, grew by 11.9% year-on-year, due to good performance in the solar, aeronautics, electronics and process industries, Mersen continued. Solar and power electronics, on the other hand, were also able to provide solid results in the Electric Power segment, which achieved revenues of €92.6 million, up 10% compared to the first quarter of 2018.
Mersen is active in the solar energy sector through the offering of a range of electrical protection solutions, such as fuses, fuse holders, heatsinks, wire management, disconnect switches, laminated busbars, and surge protective devices.
The French manufacturer also supplies ultrapure graphite electrodes and specialty graphite parts for Siemens, FBR and UMG processes in the polysilicon industry; and hydrochloric acid strippers and HCl synthesis units for the production of silane or trichlorosilane (TSC).