Siemens Acquires Robicon Corp.

July 22, 2005
Siemens Energy & Automation Inc. has acquired the assets of Robicon Corp., headquartered in New Kensington, Pa., a suburb of Pittsburgh.

Siemens Energy & Automation Inc. has acquired the assets of Robicon Corp., headquartered in New Kensington, Pa., a suburb of Pittsburgh. The acquisition includes the stock of Robicon’s foreign subsidiaries in Shanghai, China; High Wycombe, U.K.; Sao Paulo, Brazil; and Edmonton, Alberta, Canada. Robicon’s U.S. operations employ approximately 340 people. Worldwide, Robicon employees total 470.

The purchase of Robicon’s assets will strengthen Siemens’ portfolio offerings in AC drives and industrial power control, as well as provide greater access to global markets for the Robicon product lines. Robicon is recognized for its technology in medium-voltage drives and power supplies, and its market positions in oil and gas, water and waste water, energy and pipeline applications.

In the United States, the Robicon business will be integrated as a business unit of Siemens Energy & Automation Inc. The Robicon international subsidiaries will become part of the Siemens Regional Cos., under Siemens Automation & Drives Group’s leadership. Siemens will continue to use “Robicon” as the existing product line name.

On Feb. 8, 2005, Robicon and its parent company High Voltage Engineering Corporation, filed voluntary petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code. The sale to Siemens was completed after receiving approval from the U.S. Bankruptcy Court for the District of Massachusetts on June 30.