WEG buys Turkish motor-maker Volt for $88m
16 September 2024 
The Brazilian motor manufacturer WEG is buying the Turkish motor-maker Volt Electric Motors for $88m. Volt, a subsidiary of the Saya Group, is a vertically integrated company with the capacity to produce 1 million motors per year.
Volt was founded in 1966 as a coil winder and in 1987 expanded to produce single-phase motors. It has a strong presence in the Turkish market and also exports, mainly to Europe, the Middle East and central Asia. In 2023, Volt had a net operating revenue of $70m with an EBITDA margin of 18.5%.
WEG says that the acquisition will expand its presence in the region and diversify its industrial presence to serve Turkey and Europe
WEG will assume full control of Volt, which has a 27,000m² (290,000ft²) factory dedicated to designing and manufacturing industrial and commercial electric motors with outputs up to 450kW. WEG will take on Volt’s 690 employees.
Rodrigo Fumo, managing director of WEG’s industrial motors business, says that the acquisition aligns with WEG’s growth strategy for industrial and commercial motors, as it will expand its presence and product offerings in competitive and strategic markets.
“Volt has a strong presence in Turkey, where we started our own operation in 2022, in addition to proximity to regions with potential demand for our products and services, such as Eastern Europe, the Middle East, central Asia and North Africa,” he says.
Volt’s location in Izmir will facilitate WEG’s access to these markets, both by land and by sea. “Izmir has two large ports that will enable significantly faster transit times for any WEG operation in this region, which represents an important logistical advantage,” Fumo points out.
The completion of the transaction is subject to meeting certain conditions, including obtaining the necessary regulatory approvals.
Last year, WEG opened a plant in Turkey to assemble electric motors and provide technical support for customers in the region. The 7,000m2 facility in Dilovasi offers shorter times-to-market not only for Turkish buyers, but also for those in the Middle East, Eastern Europe, North Africa and central Asia.
