Seves Group division Sediver opens plant in the U.S.
West Memphis (Arkansas, U.S.), 21 April 2017 – Seves Group, a Triton Fund III company, today opened a new $15 million facility manufacturing toughened glass insulators for high voltage transmission lines. The West Memphis facility is Seves Group division Sediver’s first production investment in the U.S. in nearly two decades. Sediver products will serve a variety of customers in the electric utility industry, including the proposed Plains & Eastern direct current high voltage transmission line for renewable energy.
“We see clear signs that America’s transmission and distribution utilities are ready to invest in high quality components to ensure reliable power to their customers,” said Seves Group CEO Peter Baumgartner. “Sediver is committed to providing best-in-class products to our customers and having a state-of-the-art manufacturing facility located in the U.S. gives us the ability to do that.”
Initial plans for the West Memphis plant call for Sediver to hire up to 75 employees but with the potential to expand beyond that number, thereby also having a positive impact on the local economy. Additionally, the project includes a center of technical expertise in insulation technologies which will operate as a leading testing, product development and training center for the transmission & distribution engineering community in the U.S.
“The local communities in Crittenden County and the economic development team at the state of Arkansas have provided great support for this project,” said Joakim Olsson, chairman of Seves Group. “Our board, along with our investor, funds advised by Triton, feel optimistic about the growth potential of this facility."
Headquartered in Paris, France, Sediver is a global leader in overhead line insulation technology for transmission and distribution lines. With more than 900 employees in factories, laboratories and sales offices in North and South America, Europe and China, Sediver serves leading utility customers across all continents. Sediver’s mission is to always be at the forefront of technology developments, thanks to extensive research and development programs, offering our clients innovative solutions and best-in-class services.
For further information: www.sediver.com
About Seves Group
Seves Group is the world’s leading manufacturer of high voltage electric insulators and glass blocks. In October 2014, Seves Group was acquired by investment funds advised by Triton, whose portfolio of companies have combined sales of $15 billion.
Seves Group consists of three independent business units: Sediver - Glass Insulators for transmission lines, PPC - porcelain insulators for substations, transmission- and distribution lines and SEVES Glass Block – glass blocks for interior and exterior architectural applications.
For further information: www.seves.com
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales of around €13.9 billion and around 86,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, Luxembourg and Jersey.
For further information: www.triton-partners.com