The Finnish drives-maker Vacon has been named as 2004 company of the year in the instrumentation, controls and engineering industry, by the market analyst Frost & Sullivan.

"Strong and improving financials, an innovative approach to the market, a continued emphasis on technology leadership, and a sole focus on being the best at inverter technology, have all acted to support Vacon`s rapid advance over the competition," says F&S research manager, Mik Sabiers.

Last year, Vacon`s sales rose by 15.2% to reach €112.3m - twice the growth rate of the previous year. Its operating profit climbed by 19.2% to reach €11.8m, and it also increased its earnings per share, its return on investment, R&D spending, and the size of its workforce.

• In its annual Excellence in Industrial Technologies Awards, F&S has named Allegro Microsystems as its sensors company of the year, and Emerson as company of the year in the process control and automation sector. Invensys` Archestra automation and information software architecture was chosen as the Industrial Automation Technology of the Year. In all, F&S made more than 30 awards.