MTA announces incorporation of EDN
MTA, a multinational company operating in the global automotive sector through three divisions – Electric, Electronic, and Power Electronic – respectively headquartered in the three Italian plants of Codogno (Lo), Rolo (Reggio Emilia), and Cinisello Balsamo (Mi), has announces that on 3 July 2023, the shareholders' meeting of EDN S.r.l. and MTA S.p.A. approved the process of merger by incorporation of EDN into MTA.
This process will be operationally completed on 1 November 2023, when MTA will acquire the assets of EDN and will take over its legal relations, assuming its rights and obligations.
“The acquisition of 80% of the shares, which took place in May 2021, immediately brought the desired advantages. The synergistic work in terms of research and development, production footprint, logistics, and commercial relations has in fact proved successful,” declared Antonio Falchetti, MTA Executive Director.
“The merger of the know-how of MTA and EDN has helped to strengthen the position of both companies in the power electronics sector and to offer increasingly innovative solutions and to support manufacturers, globally, in the electrification of their vehicles, with an even more articulated offer,” concludes Mr. Falchetti. Now, with the total incorporation, MTA reinforces its commitment to growth and development of new technologies in order to remain competitive on the market and especially in the field of vehicle electrification. EDN products, such as the OBC (On-Board Battery Charger) and DC/DC Converter for electric and hybrid vehicles, will continue to be marketed with EDN brand and manufactured in the current headquarters in Cinisello Balsamo.
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