Arteche Group has sold its industrial solutions medium voltage switchgear business in Brazil to Lucy Group Ltd (Lucy) on 31st December 2017. The operation is consistent with its global strategy, focusing their efforts in Brazil and South America around Arteche’s global core business.
Lucy Arteche will continue to produce and develop its existing medium voltage, air-insulated electrical switchgear range for South America. It will benefit from Arteche’s extensive experience and expertise in medium voltage, air-insulated switchgear products in South America as well as introducing Lucy Electric’s products into the region.
Alex Artetxe, CEO of Arteche Group says “This is a relevant step forward in our roadmap to boost our development plan roadmap in Brazil and South America, focusing our resources and efforts in our global core business to consolidate our position in the domestic smart power transmission and distribution areas.”
Arteche has a strong presence on this continent and will continue working close to their customer, delivering top quality products, solutions and services to both existing and new customers. Arteche will support Lucy Electric to maintain a close relationship and service with our customers and suppliers.
All customers and suppliers are in the process of being contacted and all existing orders will be fulfilled by Lucy Arteche.
For further information:
- Franco Bechere - Director and General Manager, Lucy Arteche Brazil:
- Email: [email protected]
- Tel: + 55 41 2106 2820
- Rodrigo Seifert – Commercial Director, Lucy Arteche Brazil:
- Email: [email protected]
- Tel: + 55 41 2106 2850
About Arteche Group
Arteche is a global company headquartered in Mungia, Spain, with over 70 years of experience in the electric power industry. The Group develops equipment and solutions focused on generation, transmission and distribution. With over 2,000 employees working all over the world, Arteche is a worldwide manufacturer with equipment installed in more than 150 countries.
About Lucy Group
Lucy is a privately owned group of companies based in Oxford. The Lucy Group features in ‘The Sunday Times Grant Thornton Top Track 250’ league table in 2017 – for the second time in four years. The Group comprises four businesses: Lucy Electric, a leader in secondary power distribution solutions specialising in high-performance medium voltage switchgear for utility, industrial and commercial applications; Lucy Zodion, a market leader in the design and manufacture of street lighting control systems; Lucy Real Estate, which owns, lets and manages a substantial property portfolio and develops residential property for sale; and Lucy Castings a specialist manufacturer of iron and aluminium castings.
Lucy Electric, based in Thame, Oxfordshire, UK has operations in the Europe, Asia, Africa, Middle East and now South America.
For the year ending 31st December 2016, Group sales were £192 million with net assets of £178 million. The Group has over 1300 employees.