B&R acquires Mondial Electronic
The Austrian automation manufacturer Bernecker+Rainer Industrie Elektronik – better known as B&R – has acquired Mondial electronic, a neighbouring specialist in control systems for renewable energy and mobile applications, which had been experiencing financial problems. The terms of the deal have not been revealed.
B&R says that it plans to invest in strategic product development in its new subsidiary, and to accelerate its international expansion.
Mondial, founded in 1992, focuses on control systems for solar and biomass energy systems and for utility vehicles. In 2008, it moved into new headquarters (above) in Gilgenberg – about 10km from B&R’s HQ in Eggelsberg – at a reported cost of around €16m. Its income fell from around €20m in 2008 to €14m in 2009, and it cut its workforce from around 160 to 100.