PHINIA Inc. acquired Swedish Electromagnet Invest AB for approximately $47 million to enhance its capabilities in alternative fuel technologies and expand its market presence.
Information on the Target
PHINIA Inc. (NYSE: PHIN) is a prominent supplier in the automotive sector, specializing in high-quality fuel systems, electrical systems, and aftermarket solutions. Recently, the company has taken significant strides in its expansion through the acquisition of Swedish Electromagnet Invest AB (SEM), a firm noted for its innovative natural gas and hydrogen ignition systems, as well as other alternative fuel technologies. This acquisition, valued at approximately $47 million, aims to bolster PHINIA's capabilities in the rapidly evolving landscape of alternative fuel solutions.
SEM is recognized for its advanced engineering in fuel ignition systems, injector stators, and linear position sensors. The integration of SEM into PHINIA's operations signals a strategic move towards enhancing their product offerings and technological edge, reflecting the company's commitment to sustainability and innovation in fueling technologies.
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Industry Overview in Sweden
Sweden is widely regarded as a frontrunner in sustainable energy and alternative fuel technologies, boasting robust support from both government and private sectors in the development of green technologies. The Swedish automotive industry is experiencing significant transformations,
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PHINIA Inc.
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in 2025
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Disclosed details
Transaction Size: $47M
Net Income: $13M