“Market Cap $8.7 B As of May 2014
At a Glance
- Industry: Electrical Equipment
- Founded: 1961
- Country: Brazil
- CEO: Harry Schmelzer Jr
- Website: www.weg.com.br
- Employees: 25,350
- Sales: $3.16 B
- Headquarters: Jaragu? do Sul
#1832 Global 2000
- #1423 in Profit
- #1232 in Market value
Weg SA, formerly Eletromotores Weg SA, is a Brazil-based holding company principally engaged in the manufacturing of electrical equipment and components. It is active in the manufacture, marketing, export and import of a range of products, such as electric motors, equipment for generation of energy, variable frequency drivers, soft-starters, motor protectors and starters, electrical circuit protectors, electronic relays, pushbuttons, pilot lights, paints and varnishes, among others. The Company operates industrial parks placed in Brazil, Argentina, Mexico, the United States, Portugal, Austria, South Africa, China and India. On June 19, 2012, the Company completed the acquisition of Stardur Tintas Especiais Ltda, a Brazilian company specialized in the production and commercialization of paints. On October 31, 2012, the Company announced the acquisition of Injetel Industria e Comercio de Componentes Plasticos Ltda, which is active in the production of switchers, sockets and plugs.”
“This is WEG History
The entrepreneurial success of Werner Ricardo Voigt, Eggon João da Silva and Geraldo Werninghaus began on September 16th., 1961, when the three decided to found Eletromotores Jaraguá. Years later, the company created by an electrician, a manager and a mechanic would change its name to Eletromotores WEG SA. The name is made of the initials of the three founders.
Success has always been a part of the company’s history. As Latin America’s largest electric motor manufacturer and one of the world’s largest, WEG specializes in branches such as command and protection, speed variation, industrial process automation, power generation and distribution and industrial paints and varnishes.
In Brazil WEG is headquartered and has its main manufacturing units in Jaraguá do Sul, state of Santa Catarina. In the same state are located several other production sites, in Blumenau, Itajaí, Guaramirim e Joaçaba. Other plants in Brazil are located in the states of Rio Grande do Sul (Gravataí), São Paulo (São Paulo, São Bernardo do Campo and Hortolândia), Espírito Santo (Linhares) and Amazonas (Manaus). Outside Brazil WEG has manufacturing units in Argentina, Mexico, South Africa, Portugal, China and India, and distribution & commercialization units in the USA, Venezuela, Colombia, Chile, Germany, England, Belgium, France, Spain, Italy, Sweden, Australia, Japan, Singapore, India, Russia and UAE.
Initially manufacturing electric motors, WEG started to diversify during the 80’s with the production of electronic components, industrial automation products, power and distribution transformers, liquid and powdered paints and insulating varnishes. More and more, the company is consolidating herself not only as a electric motor manufacturer, but also as a supplier of complete industrial electrical systems.”
*Information from Forbes.com and Weg.com.br
**Video published on YouTube by “wegvideos“