Fuel and electrical systems and aftermarket solutions company Phinia has acquired of Swedish Electromagnet Invest AB (SEM), which a century-old company providing advanced natural gas, hydrogen and other alternative fuel ignition systems, injector stators and linear position sensors for on- and off-highway commercial vehicle and industrial markets. It also provides ignition and fuel injection solutions for the professional handheld equipment market.
In the announcement from Phinia, it was noted that SEM has a deep understanding of advanced ignition technologies for both on- and off-road commercial and industrial engines. It’s part of Phinia’s strategy, the company said, to invest in alternative fuel technologies that offer enhanced sustainability and find new opportunities in key market, which this deal marks.
We’re genuinely excited about what lies ahead. This acquisition opens new possibilities through the strategic expansion of our portfolio,” said Brady Ericson, Phinia’s president and CEO. “By combining Phinia’s expertise in engine management systems with SEM’s deep knowledge of advanced ignition technologies, we expect to create a powerful platform for innovation and efficiency. Together, we’ll unlock new opportunities in the commercial vehicle and industrial markets.
“We see tremendous potential to scale our combined offerings across a global customer base, integrate our electronics and systems capabilities, and deliver even greater value for our customers and shareholders.”
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