February 16, 2021
Mersen has recently announced that it has repurchased the stake held by the Hager Group in Fusetech, thereby acquiring full control of the company based in Kaposvar, Hungary.
This operation enables Mersen to strengthen its manufacturing efficiency on Europe’s electric fuse market, and to integrate a high-performance site for the manufacture of some of its future product ranges in accordance with European standards (IEC). The transaction is valued at approximately €4 million, excluding any future earn-out payments.
Fusetech has been a 50:50 joint venture between Mersen and Hager since 2007. Its plant produces cost-competitive industrial fuses for the European market. The company currently employs around 300 people on a site of 6,000 sq.m. In 2020, Fusetech generated non-Mersen-related sales of approximately €7 million.
Luc Themelin, Chief Executive Officer of Mersen, said: “I am delighted to see Mersen take this next important step in its plan to build and optimize its fuse product lines in Europe. Fusetech is an excellent industrial base for fuse production developed with our partner Hager Group, which the Group will use to ramp up its presence on the European market. The Fusetech teams already know Mersen and I look forward to welcoming them into the Group.”