# TECO Electric & Machinery acquires 57.2% stake in Shenchang Electric

TECO Electric & Machinery Co., Ltd. announced the acquisition of a 57.2% stake in Shenchang Electric Co., Ltd., a transformer manufacturer, for a total consideration not exceeding NT$550 million. The acquisition includes a strategic alliance with Shenchang's Indonesian affiliate PT. Sintra Sinarindo Elektrik.

- Type: Acquisition
- Announced: 2024-09-24
- Where: TWN
- Status: announced
- Products: distribution transformers, power transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Teco Electric & Machinery Co.](https://endata.com/companies/17228.md) (acquirer)
- [PT Sintra Sinarindo Elektrik](https://endata.com/companies/20788.md) (partner)
- [Shenchang Electric Co., Ltd.](https://endata.com/companies/80023.md) (target)

## Sources

- [teco.com.tw](https://www.teco.com.tw/en-us/press/news/20240924), 2024-09-24: "This acquisition demonstrates TECO's initial step into the global transformer market, completing the gap in TECO’s electrification product portfolio."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.