Fuji Electric acquires Canadian rail manufacturer

Fuji Electric Corp. of America has acquired a majority share of a Canadian rail manufacturer, it announced Wednesday.The Edison-based power company acquired SEMEC Electro-Mecanique Inc. to expand its transit business in North America and broaden its product lineup with the manufacturer’s railway vehicle door opening and closing equipment, Fuji Electric said.

“SEMEC has a solid reputation for manufacturing quality products, and they are a well-rounded company skilled at everything from development, to production, to sales,” Philip Charatz, CEO and president, Fuji Electric, said in a prepared statement. “This business model will complement our Transit business nicely and will support our long-term growth initiatives in North America.”

The deal, which was completed in February, allows for Fuji Electric to purchase 51 percent of SEMEC. Financial terms were not disclosed.

“This acquisition, coupled with our recent opening of a 37,000-square-foot factory in Virginia to develop auxiliary power supply devices for railways, is a testament to our strategic vision for our North American Transit business,” Charatz said in a prepared statement. “We have an aggressive five-year growth plan and are committed to taking the major steps necessary to achieve those goals.”