WEG to acquire the motion business division of Gefran for $24m.

WEG, a Brazilian group, agreed to acquire the motion business division of Gefran, an automation machinery manufacturing company, for $24m. "Our objective is to offer an increasingly broad portfolio of products and solutions, increase our presence in a market as important as the European market, now with local manufacturing, and thereby accelerate our growth process abroad within our motion drives strategy," Manfred Peter Johann, WEG Managing Director of Automation.