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WEG Industries

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WEG S.A.
Company typeSociedade Anônima
B3: WEGE3
Ibovespa Component
IndustryElectrical equipment
Founded16 September 1961; 63 years ago (16 September 1961)
HeadquartersJaraguá do Sul, Brazil
Area served
Worldwide
Key people
Décio da Silva (Chairman)
Alberto Kuba(CEO)
ProductsElectric motors, Industrial Automation and Control, Generators, Transformers, Switchgear, Electrical substations, Drives and Coatings
RevenueIncrease US$6.3 billion (2023)[1]
Number of employees
c. 40,000
Websiteweg.net

WEG is a Brazilian company operating worldwide in the electric engineering, power and automation technology areas. Headquartered in Jaraguá do Sul, Brazil. The company produces electric motors, generators, transformers, turbines, drives, coatings, among other products and integrated solutions related to electric systems.

WEG was founded in 1961 by Werner Ricardo Voigt, Eggon João da Silva and Geraldo Werninghaus, the name of the company is an acronym of the names of the founders. The company has operations in around 100 countries, with approximately 40,000 employees. It's one the largest manufacturers of electric motors and associated equipment in the world.[2]

History

The company Eletromotores Jaraguá was created on 16 September 1961 by Werner Ricardo Voigt, Eggon João da Silva and Geraldo Werninghaus (respectively an electrician, an administrator and a mechanic). Years later changed its name to Eletromotores WEG SA, the name WEG being formed with the first letter of each founder's first name.[3]

Initially producing electric motors, WEG started diversifying its activities during the eighties, with the production of electric components, products for industrial automation, power and distribution transformers, liquid and powder paints and electrical insulation varnishes. The company grew into a global motor manufacturer.

In 1968, WEG created CentroWEG, a training center to aid in the lack of qualified professionals in the area of mechanical engineers.

In May 2008, WEG announced a new factory in India.[4]

In February 2012, the Canadian manufacturer Ballard Power Systems signed a deal with WEG to assess the market opportunities for hydrogen PEM fuel cell products and services in applications.[5][6]

In February 2019, WEG acquired Energy Storage System, the storage business of US-based Northern Power Systems (NPS). WEG had previously bought the utility-scale turbine business of NPS in 2016.[7] In May 2019, WEG signed a deal with the aerospace conglomerate Embraer to work on new electrical propulsion systems for aircraft.[8]

In May 2019, WEG also introduced the 4MW wind turbine.[9] By 2024, WEG produced a 7MW wind turbine.[10]

In 2024, WEG acquired the industrial electric motors and generators business of Regal Rexnord Corporation, including the Marathon, Cemp, and Rotor brands. WEG will also integrate a team of approximately 2,800 employees operating in 10 factories located in seven countries (United States, Mexico, China, India, Italy, the Netherlands, and Canada), as well as commercial subsidiaries in 11 countries. The net operating revenue of these businesses in 2022 was approximately $542 million.[11]

Activities

Description

The company has subsidiaries in 37 countries, and production is distributed in manufacturing plants in 15 countries, including: Brazil, Argentina, Colombia, India, Mexico, Portugal, Austria, Germany, China, South Africa, and United States.[12]

Products

References

  1. ^ "WEG Revenue". Companies Market Cap. Retrieved 11 February 2024.
  2. ^ "WEG to invest R$660m in capacity expansion in Brazil". ValorInternational. 27 September 2022. Retrieved 23 January 2024.
  3. ^ https://www.weg.net/institutional/US/en/history. {{cite web}}: Missing or empty |title= (help)
  4. ^ "Goliath". Retrieved 30 August 2008.
  5. ^ "Brazil: Ballard to supply fuel cells to WEG Industries". Automotive World. 9 February 2012. Retrieved 29 May 2019.
  6. ^ "Ballard signs deal with WEG Industries to develop fuel cells for clean energy in Brazil". Renewable Energy Focus. 8 February 2012. Retrieved 29 May 2019.
  7. ^ Alexandre Spatuzza (13 February 2019). "Brazil's WEG enters storage market with NPS acquisition". Recharge. Retrieved 29 May 2019.
  8. ^ "Embraer, WEG team up to build electric motor for planes: statement". Reuters. 29 May 2019. Retrieved 29 May 2019.
  9. ^ "Brazil's WEG unveils 4MW wind turbine to battle global giants". Recharge. 28 May 2019.
  10. ^ "WEG to launch a 7 MW wind turbine".
  11. ^ "WEG acquires industrial electric motors and generators business from Regal Rexnord".
  12. ^ "WEG in Numbers".
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