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Eastern European Markets
NEWS RELEASE
April, the 10th, 2008

Vacon moves to larger premises in Moscow

ZAO Vacon Drives, the subsidiary of the Finland-based AC drives manufacturer Vacon, has moved to new and larger premises in central Moscow, Russia. With its extremely rapid market growth and rising energy price, Russia is an attractive AC drives market for Vacon.

“Demand for energy-saving solutions is continuously growing in various industries in Russia. With an annual growth rate of more than 20 per cent, the Russian market offers us excellent potential for increasing sales,” says Heikki Hiltunen, Executive Vice President, Vacon.

“ZAO Vacon Drives has a solid customer base including many major companies. Our business is growing most rapidly in the oil, gas and energy sectors, and with our young and energetic team we are eager to win more market share also in other industries,” says Sergei Postnikov, Managing Director of ZAO Vacon Drives since June 2007. “Our new and larger premises in central Moscow improve our possibilities to operate, and allow us to invite our customers and partners to visit our office for meetings and trainings.

Vacon has been operating in the Russian market since the year 2001 when a subsidiary was founded in Moscow. ZAO Vacon Drives has an office also in St. Petersburg.

The growth in the AC drives market is based on rising energy prices, increasing automation, and falling electronics prices. Particularly the high energy price encourages investments in AC drives, which bring considerable energy savings. At its shortest, the payback period for investments in AC drives can be much less than 12 months. There are no substitutes to AC drives.

About Vacon:
Vacon was established in 1993 from a passion to develop and produce AC drives globally. It is a matter of honour for Vacon to offer customers efficient, reliable and easy to use means for improving process control and saving energy and costs. Vacon's solutions represent clean technology. They can be used to control the speed of electric motors used by industry and municipal engineering, and in power generation using renewable energy. Vacon provides AC drives in the power range 0.25 kW – 5 MW. Revenues in 2007 totalled EUR 232.2 million.

For more information
Heikki Hiltunen, Executive Vice President, Products and Markets, Vacon Group
mobile +358 (0)40 8371 609
Sergei Postnikov, Managing Director, ZAO Vacon Drives
tel. +7 495 974 1541, mobile +7 906 789 49 59
Press contact:
Catarina Fant, Director, Brand Management and Communications, Vacon Group,
mobile +358 (0)40 8371 276, e-mail catarina.fant(at)vacon.com

www.vacon.com


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