Vacon variable speed AC drives - Investors - From CEO: "In Prospects for 2008 February 8, 2008 the CEO, Vesa Lasi, Vacon Plc, is telling:
"No significant changes have taken place in Vacon’s market prospects. The state of the market is expected to remain favourable in 2008. The AC drive is one of the most important tools in enhancing energy usage and an important component in renewable energy power plants. High energy prices, increasing automation and measures to reduce emissions increase the market for AC drives. Based on market surveys Vacon estimates that the AC drive market is growing at an annual rate of about 9 %."
Helge: I need to talk about that with Olli.
The purchase of the TB Wood’s AC drive business announced in December 2007 gives a significant boost to Vacon’s growth potential and market position. The broad range and cost-efficiency of the combined product portfolio give a competitive edge, and the renewal of the product range over the next few years is expected to strengthen Vacon’s market position. Vacon considers that potential risks to its financial performance in 2008 are problems that material suppliers may have with capacity, increasing problems with the availability of key components and increases in their prices, and the weakening of the US dollar.
Helge: Vacon is strong in renewable energy, OK, what more?
If speed control is required, that controller is called a (variable speed) AC drive. AC drives are used in a wide variety of industrial applications. To give an easy example, AC drives are often used with fans to provide adjustable airflow in large heating and air conditioning systems. The flow of water and chemicals in industrial processes is often controlled by adjusting the speed of pumps.