AQ Group’s completes acquisition of Schaffner's Power Magnetics division
AQ Group AB has closed the deal with Schaffner Group to acquire its Power Magnetics Division.
The new companies are named AQ Inductive Components Germany GmbH (Germany), AQ Transformer Solutions Inc. (USA) and AQ Power Magnetics Shanghai Co. Ltd. (China). Schaffner EMV Hungary Kft. will be renamed AQ Inductives Hungary Kft after registration and approval from the authorities, a press release reads. The new subsidiaries will be part of business area Inductive Components which provides electrification solutions to the marine, rail, industry and renewables sectors.