Magnetics Business & Technology - May/June 2021 - 33

INDUSTRY NEWS
As reported last year, Schaeffler has received a record order for
dedicated hybrid drives. From 2024, Schaeffler will deliver an
entire drive unit comprising two electric motors and transmission with integrated power electronics. A system power rating of
120 kW offers sports-car like performance with low fuel consumption.
" We are making excellent progress, " says Dr. Jochen Schroeder, president of the E-Mobility business division. " Our modular
product portfolio enables us to offer customized volume-production solutions to meet any customer requirement. "

Based in Herzogenaurach near Nuremberg, Schaeffler manufactures components and systems for drive train and chassis
applications for the automotive industry, as well as rolling and
plain bearing solutions for industrial applications. With around
83,700 employees, the group is one of the world's largest family
companies, working from 170 locations in over 50 countries.

" I believe that combining the global production and distribution
capabilities of Essex with the technology and innovation of Furukawa Electric will ensure that Essex Furukawa is one of the
most exciting things to happen to the industry in some time, "
Kim said.
Other top executives of the
new operation include Toru
Shiigi who has been named
senior vice president of global
operations, and Masakazu
Mesaki, named senior vice
Toru Shigi
Masakazu Mesaki president of global research
and development. Both have
been long-time employees
and key leaders of Furukawa's magnet wire business.
The plan was initially
jointly announced on
September 2019 by
both Kim and Kei
Kobayashi, right,
president of Furukawa
Electric which is based
in Tokyo. As previously reported, the deal
involves a combined
workforce of nearly
2,100 employees working at 17 locations in
eight countries.
See www.essexfurukawa.com.

On Again: Essex Furukawa New Global
Brand for Magnet Wire, Led by Brian Kim
A year from when they reached
agreement for a magnet wire
mega-deal, Superior Essex and
Furukawa Electric now are moving forward to finalize creation
of their global joint venture.
Originally targeted for commencement on April 1, 2020 but
the pact was put on hold due
to the Covid-19 pandemic but
reactivated on October 1. The
combined company will operate
as Essex Furukawa Magnet Wire LLC using the brand, Essex
Furukawa. It will be led by Brian Kim, Atlanta-based CEO of
Superior Essex, Inc., the parent company of the Essex Magnet
Wire business.
" This is an exciting day, not only due to the finalization of the
Essex Furukawa deal, but also as it marks the creation of a
technological powerhouse in the magnet wire industry that can
service many of the leading enterprises, " said Brian Kim, CEO
of the newly formed company. " As a singular entity-and relying
on the strengths of both Essex Magnet Wire and Furukawa
Electric-we will be able to draw on more than two centuries of
combined experience and knowledge to push forward innovation while also remaining focused on delivering manufacturing
excellence and outstanding customer service. "

www.MagneticsMag.com

May/June 2021 * Magnetics Business & Technology

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Magnetics Business & Technology - May/June 2021

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