Toshiba Corporation has acquired Camargo Correa Equipamentos e Sistemas S.A. (CCES), which manufactures and sells air insulated switchgear (AIS) and provides full turnkey construction of AIS substations, from Construcoes e Comercio Camargo Correa S.A. (CCCC).
Negotiations between the two companies commenced at the beginning of the year and culminated in the December 1 closing of the transaction. The acquisition will allow Toshiba to enter the Brazilian AIS market, advancing Toshiba's strategy of reinforcing and expanding its T&D systems business in the global market.
Based in Curitiba, Parana State, CCES is one of Brazil's largest manufacturers of AIS and key components, including porcelain gas circuit breakers and disconnecting switches. The company is also active in full turnkey construction of AIS substations.
In Brazil, Toshiba already manufactures transformers at Toshiba Transmission and Distribution of Brazil Ltd. (TTDB), in Minas Gerais. Combining Toshiba's T&D technologies, including TTDB's highly competitive and reliable manufacturing capabilities in transformers, with CCES' capabilities will allow Toshiba to significantly enhance its total support to customers in Brazil.
On completion of the acquisition, CCES changed its name to Toshiba Transmission and Distribution Systems Brazil Ltd. (TSTB).
Toshiba Corporation, www.toshiba.co.jp
