Electrical Business

Business News
Virginia Transformer seals agreement with Caravels


January 23, 2015
By Renée Francoeur

January 23, 2015 – Virginia Transformer Corp. has announced the closing of its alliance deal with Caravels, the new owner of Efacec Power Transformer.
 

The relationship will allow VTC to offer a “total package to the industrial, oil and gas, utility and renewable energy markets for power generation and transmission up to 500 MVA in the 500 KV class,” said the company.

With Efacec — a manufacturer of large power transformers in Rincon, Ga — VTC claims it is America’s second largest transformer business by capacity and size and third in revenues.

The alliance involves the sale of assets of the Rincon facility to Caravels, including design and manufacturing technology, facility and equipment, and the use of the Efacec brand for a period of time.
Financial terms are not being disclosed.

Caravels said it intends to employ Efacec’s experienced existing personnel of about 250 in Georgia and use the existing technology and processes to manufacture transformers.

“This alliance will make Efacec stronger through VTC’s presence in the North America energy market, complementing Efacec’s positions in the oil and gas and Industrial segment,” said Prabhat Jain, president of VTC.

The Efacec facility has delivered about 125 transformers ranging from 20 to 900 MVA and 69kV to 525kV since 2009.