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Franklin splashes out on Italy`s Coverco

01 February, 2002

Franklin Electric, the world`s largest manufacturer of submersible motors, has bought the Italian motor manufacturer Coverco for an undisclosed sum. Coverco makes oil-filled submersible motors using a different technology to Franklin`s encapsulated machines. It also produces TEFC (totally enclosed, fan-cooled) motors for pumps, ventilation systems and other above-ground applications.

Franklin`s chief executive William Lawson says that there is little overlap in customers or markets between the two companies, because of their differing technologies and the fact that they serve different geographical areas. "This acquisition will strengthen our ability to serve Southern Europe and the developing regions of the world," he adds.

Lawson says that Coverco`s TEFC motors complement Franklin`s specially engineered above-ground motors and create an opportunity to optimise the design of these machines.

Franklin will operate Coverco as an independent company with its own directors, management, brands and products.

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