Furukawa Electric Completes Acquisition of SuperPower Inc. from the Philips Group

Furukawa Electric announced that it has completed the acquisition of the N.Y.–based second generation high temperature superconductivity wire manufacturer, SuperPower Inc. from the Philips.

Through this acquisition, Furukawa Electric states that it welcomes to its group one of the only two companies in the world with the capability for commercial production of 2G HTS wire today. Furukawa Electric plans to aggressively grow both its and SuperPower’s business in the markets of the globally-expanding smart grid, alternative energy and industrial sectors by providing superconducting wire as well as developing applied superconductor devices.

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