Acquisition and development of a portfolio of Lumel products in the middle voltage segment and radiation portal monitors SMP
LUMEL S.A. Management Board informs that on 19.10.2020 a contract with Relpol S.A. was signed under which it acquired an organized part of the enterprise, operating within Relpol S.A. structures, engaged in the production, sale and service of equipment and systems for the medium voltage segment, in particular the production of protection relays and stationary radiation monitors.
Under the agreement, the production of CZIP protection relays and radiation portal monitors SMP will be carried out in the newly built Lumel 4.0 factory in Zielona Góra. Lumel S.A. will also provide all existing customers with full sales and after-sales service of the devices.
“I am extremely delighted with the agreement we concluded with Relpol S.A., our long-term business partner. The CZIP protection relay product line will help us to extend Lumel's offer with modern solutions in the medium voltage segment. Lumel with its other group companies can access the global market to sell and service this product line. The radiation portal monitors is an interesting new dimension to our business. This acquisition is part of the long-term development strategy of the Lumel and the international capital group to which Lumel belongs. We did the largest investment since the beginning of Lumel's existence, the investment in Lumel 4.0, the new technology plant, where we started production 5 months ago, gives us a chance to implement new ambitious projects, including green energy and automotive. New products for the MV segment and project in the field of gamma radiation monitoring are yet another opportunity. I am aware that the times are hard not only for the world of business but for all of us, however we will continue to make strategic decisions to the long term development of the business” - said Dinesh Musalekar - President of LUMEL SA and LUMEL ALUCAST.
Lumel press release HERE
Joint statement Lumel - Relpol HERE
