Russian subsidiary of Vacon moves to central Moscow

10 April 2008

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ZAO Vacon Drives, the subsidiary of the Finland-based AC drives manufacturer Vacon, has moved to new and larger premises in central Moscow, Russia. With its rapid market growth and rising energy price, Russia is an attractive AC drives market for Vacon.

Heikki Hiltunen, Executive Vice President at Vacon says: "Demand for energy-saving solutions is continuously growing in various industries in Russia. With an annual growth rate of more than 20 per cent, the Russian market offers us excellent potential for increasing sales."

Sergei Postnikov, Managing Director of ZAO Vacon Drives since June 2007, says: "ZAO Vacon Drives has a solid customer base including many major companies. Our business is growing most rapidly in the oil, gas and energy sectors and with our young and energetic team, we are eager to win more market share also in other industries. Our new and larger premises in central Moscow improve our possibilities to operate and allow us to invite our customers and partners to visit our office for meetings and trainings."

Vacon has been operating in the Russian market since the year 2001 when a subsidiary was founded in Moscow. ZAO Vacon Drives has an office also in St Petersburg.

The growth in the AC drives market is based on rising energy prices, increasing automation and falling electronics prices. The high energy price particularly encourages investments in AC drives, which bring considerable energy savings. At its shortest, the payback period for investments in AC drives can be much less than 12 months. There are no substitutes to AC drives.

The new contact information is:

ZAO Vacon Drives, Ul. Letchika Babushkina 1, Stroenie 3, 129344 Moscow, Russia

Telephone: +7 495 363 19 85. Fax: +7 495 363 19 86

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