EFD Induction expands into Canada and Romania
EFD Induction recently acquired 49% of Tekna Plasma Systems, Inc. The Quebec-based company develops and manufactures equipment that uses induction plasma technology in many areas. And Tekna is always on the lookout for novel ways to apply induction plasma technology, a quality we value.
Best of all, Tekna fits EFD Induction like a glove. Although both Tekna and EFD Induction are world leaders in induction plasma technology, EFD Induction has not used it to produce micron and nano size powder. That is Tekna’s specialty. So overnight we gain market leadership in this area and expand business activity in a core competency. Meanwhile, Tekna gains access to EFD Induction’s expertise and international network of subsidiaries.
Eastward bound, too
We also bought another 35% of Inductro Srl, a Bucharest company, raising our holding to 70%. Inductro, with 30 employees, makes forging and melting equipment, restores induction hardening machines, and produces coils. We feel good about Romania. It’s Southeast Europe’s largest country, and its membership in the European Union has opened up immense business opportunities. Inductro itself is a true success story. After the 1989 fall of Communism, Liliana and Iona Bojita founded and built up the company, whose sales last year climbed 37%. We have bought 8,700 square meters of land to build a factory, where we plan to raise the annual output of induction heating machines to supply pan-European customers.
Tekna and Inductro represent great growth potential. And we are expanding into other parts of the world, too. So be on the lookout for more news in future issues.
Maher Boulos, Tekna Plasma Systems Inc.
Liliana Bojita, Inductro Srl.
Ioan Mircea Bojita, Inductro Srl,