05/20/2021 | Press release | Distributed by Public on 05/20/2021 06:21
MTA announces today the acquisition of 80% share of EDN, an Italian Company, leader in design and manufacturing of OBCs (On-Board battery Chargers) and power converters for electric vehicles and for harsh environments. The current shareholders will retain 20% of EDN's shares together with their directional and operative positions inside the Company.
Antonio Falchetti, MTA CEO, is proud to declare: 'With this operation, MTA is taking another step towards solidifying itself as a major player in electrification: the acquisition will expand MTA's capabilities in the power electronics sector and it will strengthen its portfolio of components for green mobility, with the addition of products such as OBC, DC/DC Converters and Inverters'. 'On the other side', continues Falchetti, 'the transaction will accelerate EDN's global growth by exploiting synergies within the group in terms of research and development, manufacturing footprint, logistic and commercial relationship.'
MTA's products portfolio supplied to OEMs, manufacturing electric and hybrid vehicles, ranges from High Voltage and 48 V fuses and fuse holders to power distribution units and connectors.
The joint know-how of EDN and MTA will offer state-of-the-art power electronic solutions to support global producers in their vehicles' electrification.