PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, has completed the acquisition of Swedish Electromagnet Invest AB (publ) (“SEM”), a century-old provider of advanced natural gas, hydrogen and other alternative fuel ignition systems, injector stators and linear position sensors for on-and-off-highway commercial vehicle and industrial markets, as well as of ignition and fuel injection solutions for the professional handheld equipment market. With over 100 years of industrial heritage, SEM brings deep expertise in advanced ignition technologies for both on- and off-road commercial and industrial engines. This acquisition supports PHINIA’s strategy to invest in alternative fuel technologies that offer enhanced sustainability and unlock new opportunities in key markets.
Brady Ericson, President and Chief Executive Officer of PHINIA, commented
“We’re genuinely excited about what lies ahead. This acquisition opens new possibilities through the strategic expansion of our portfolio. By combining PHINIA’s expertise in engine management systems with SEM’s deep knowledge of advanced ignition technologies, we expect to create a powerful platform for innovation and efficiency. Together, we’ll unlock new opportunities in the commercial vehicle and industrial markets. We see tremendous potential to scale our combined offerings across a global customer base, integrate our electronics and systems capabilities, and deliver even greater value for our customers and shareholders.”
%20SP%20Training.webp&w=640&q=75)