Teco Electric & Machinery Co, a major supplier of electric motors in Taiwan, has unveiled plans to acquire a 57.2% stake in local transformer maker Shenchang Electric Co for up to NT$550 million (US$17.21 million).
The deal includes a strategic alliance with Shenchang’s Indonesian affiliate, PT Sintra Sinarindo Elektrik, and is expected to boost Teco’s revenue by next quarter.
The acquisition supports Teco’s expansion into the global transformer market, particularly in North America and Indonesia, while enhancing its electrification product portfolio.
Shenchang, established in 1971, specializes in distribution transformers and has long served notable clients, including Taiwan Power Co and Siemens AG.
The companies aim to broaden their transformer offerings, targeting the growing demand for green energy solutions and infrastructure upgrades in Taiwan and North America.
