wiredinUSA November 2011

INDEX

SuperPower acquired by Furukawa

SuperPower Inc. in Schenectady, New York, has been bought by Furukawa Electric Co, headquartered in Tokyo, Japan. Details of the deal were not immediately available. At time of going to press, Furukawa had not yet filed information with the Tokyo Stock Exchange regarding costs and other specifics about the acquisition. SuperPower, which develops superconducting wire technology for electric utilities, employs 60 people in Schenectady, with research and development conducted at the University of Houston. The Business Review reported that SuperPower’s spokeswoman said the sale is not expected to affect the company’s existing staffing in Schenectady or the management structure. Furukawa develops products for the power, automotive, construction, electronics and telecommunications industries. Furukawa stated to investors that the company’s global growth plans include expanding SuperPower’s technology, used now to develop high-temperature superconducting wire technology for the electric grid, into industrial, alternative energy and other related sectors.

wiredInUSA - November 2011

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