Concentric AB: Navigating Change and Growth in a Dynamic Market
October 1, 2024, 6:14 pm
Concentric: Technology + Innovation = Sustainability
Location: Sweden, Ostergotland, Linköping
Employees: 501-1000
Founded date: 1921
Concentric AB is in the midst of a transformative phase. The company, a key player in flow control and fluid power, is making waves with significant management changes and strategic acquisitions. These moves signal a bold step into the future, as Concentric aims to solidify its position in the evolving landscape of electric and hybrid technologies.
On October 1, 2024, Concentric announced a major shift in its senior management. Dr. Roger Ingemey, the Senior Vice President of the Hydraulics division, has departed from his role. His responsibilities will be temporarily handled by existing members of the Senior Leadership team. This change, while sudden, is not uncommon in the corporate world. It reflects the fluid nature of leadership in high-stakes industries. Companies must adapt quickly to remain competitive.
Concentric’s focus is clear: innovation. The company specializes in providing proprietary systems and components to various sectors, including construction, agriculture, and energy. With a global footprint that spans North America, Europe, and Asia, Concentric is well-positioned to meet the demands of a diverse clientele. In 2023, the company reported a turnover of MSEK 4,205 and employed around 1,282 people. These figures underscore its significant presence in the market.
The recent acquisition of G.O. ENGINEERING Gesellschaft zur Entwicklung von Hard- und Software GmbH (GO Engineering) marks another pivotal moment for Concentric. This acquisition, finalized on the same day as the management change, is expected to enhance Concentric’s capabilities in electric sales and cost efficiencies. By bringing GO Engineering’s expertise in electronics design and manufacturing into the fold, Concentric aims to streamline its operations and improve its product offerings.
GO Engineering, founded in 1990 and based in Germany, specializes in high-quality electronics. Its experience spans various industries, including commercial vehicles and industrial applications. This acquisition is not just about expanding the product line; it’s about integrating technology that will allow Concentric to respond more effectively to customer needs. The goal is to create a unified electronic platform that can be leveraged across all brands and global operations.
The electrification strategy is at the heart of Concentric’s vision. As the world shifts towards sustainable energy solutions, companies must adapt or risk being left behind. Concentric’s commitment to developing electric products—such as water and oil pumps, thermal management systems, and high-voltage components—positions it well for future growth. These products are not only relevant; they are essential in the transition to electric and hybrid powertrains.
In the current market, where sustainability is paramount, Concentric’s innovations stand out. The company is not just responding to trends; it is shaping them. Its focus on electric and hybrid technologies aligns with global efforts to reduce carbon footprints and enhance energy efficiency. This strategic direction is crucial as industries seek to meet stringent environmental regulations and consumer expectations.
The management change and acquisition are intertwined. New leadership often brings fresh perspectives and ideas. This can be a catalyst for innovation. The interim management team will likely be tasked with integrating GO Engineering’s operations and ensuring a smooth transition. This process will require agility and foresight, as the company navigates the complexities of merging different corporate cultures and operational practices.
Moreover, the acquisition is expected to yield medium-term cost efficiencies. By bringing controller design and manufacturing in-house, Concentric can reduce reliance on external suppliers. This not only cuts costs but also enhances control over the production process. The ability to innovate quickly and respond to market demands is a significant advantage in today’s fast-paced environment.
As Concentric moves forward, the emphasis on sustainability will remain a guiding principle. The company’s products are designed to meet the evolving needs of its customers while minimizing environmental impact. This dual focus on innovation and sustainability is a powerful combination that can drive long-term success.
In conclusion, Concentric AB is at a crossroads. The departure of a senior leader and the acquisition of GO Engineering are significant events that will shape the company’s future. With a commitment to innovation and sustainability, Concentric is poised to thrive in a competitive landscape. The road ahead may be challenging, but with strategic leadership and a clear vision, Concentric is ready to embrace the future. The company is not just adapting to change; it is driving it. In the world of fluid power and flow control, Concentric is a name to watch.
On October 1, 2024, Concentric announced a major shift in its senior management. Dr. Roger Ingemey, the Senior Vice President of the Hydraulics division, has departed from his role. His responsibilities will be temporarily handled by existing members of the Senior Leadership team. This change, while sudden, is not uncommon in the corporate world. It reflects the fluid nature of leadership in high-stakes industries. Companies must adapt quickly to remain competitive.
Concentric’s focus is clear: innovation. The company specializes in providing proprietary systems and components to various sectors, including construction, agriculture, and energy. With a global footprint that spans North America, Europe, and Asia, Concentric is well-positioned to meet the demands of a diverse clientele. In 2023, the company reported a turnover of MSEK 4,205 and employed around 1,282 people. These figures underscore its significant presence in the market.
The recent acquisition of G.O. ENGINEERING Gesellschaft zur Entwicklung von Hard- und Software GmbH (GO Engineering) marks another pivotal moment for Concentric. This acquisition, finalized on the same day as the management change, is expected to enhance Concentric’s capabilities in electric sales and cost efficiencies. By bringing GO Engineering’s expertise in electronics design and manufacturing into the fold, Concentric aims to streamline its operations and improve its product offerings.
GO Engineering, founded in 1990 and based in Germany, specializes in high-quality electronics. Its experience spans various industries, including commercial vehicles and industrial applications. This acquisition is not just about expanding the product line; it’s about integrating technology that will allow Concentric to respond more effectively to customer needs. The goal is to create a unified electronic platform that can be leveraged across all brands and global operations.
The electrification strategy is at the heart of Concentric’s vision. As the world shifts towards sustainable energy solutions, companies must adapt or risk being left behind. Concentric’s commitment to developing electric products—such as water and oil pumps, thermal management systems, and high-voltage components—positions it well for future growth. These products are not only relevant; they are essential in the transition to electric and hybrid powertrains.
In the current market, where sustainability is paramount, Concentric’s innovations stand out. The company is not just responding to trends; it is shaping them. Its focus on electric and hybrid technologies aligns with global efforts to reduce carbon footprints and enhance energy efficiency. This strategic direction is crucial as industries seek to meet stringent environmental regulations and consumer expectations.
The management change and acquisition are intertwined. New leadership often brings fresh perspectives and ideas. This can be a catalyst for innovation. The interim management team will likely be tasked with integrating GO Engineering’s operations and ensuring a smooth transition. This process will require agility and foresight, as the company navigates the complexities of merging different corporate cultures and operational practices.
Moreover, the acquisition is expected to yield medium-term cost efficiencies. By bringing controller design and manufacturing in-house, Concentric can reduce reliance on external suppliers. This not only cuts costs but also enhances control over the production process. The ability to innovate quickly and respond to market demands is a significant advantage in today’s fast-paced environment.
As Concentric moves forward, the emphasis on sustainability will remain a guiding principle. The company’s products are designed to meet the evolving needs of its customers while minimizing environmental impact. This dual focus on innovation and sustainability is a powerful combination that can drive long-term success.
In conclusion, Concentric AB is at a crossroads. The departure of a senior leader and the acquisition of GO Engineering are significant events that will shape the company’s future. With a commitment to innovation and sustainability, Concentric is poised to thrive in a competitive landscape. The road ahead may be challenging, but with strategic leadership and a clear vision, Concentric is ready to embrace the future. The company is not just adapting to change; it is driving it. In the world of fluid power and flow control, Concentric is a name to watch.