The American group Schumacher Electric Corporation buys the Liège company Ceteor
Thursday, 27 August 2015
The American group Schumacher Electric Corporation has just bought the Belgian company Ceteor. Ceteor specialises in professional starter battery boosters and electronic chargers. The buy-out was announced on Wednesday, but the price has not been revealed. Ceteor’s offices in Harzé, in the Liège Ardennes, will become Schumacher’s European base.
Ceteor was found 25 years ago, and has earned itself an international reputation in the booster sector, thanks to commercial success all over the world. “Purchasing Ceteor will allow us to both develop a European market and bring Ceteor’s boosters to the American market. Their boosters are reputed to be high quality. Ceteor’s boosters and chargers will continue to be sold, and the brand name will stay the same”, said Cory Watkins, the CEO of Schumacher Electric.
“I am really happy about this agreement, as it provides new opportunities for Ceteor, its products, its customers and staff”, says Cécile Troisfontaine, the delegate administrator for the Liège company.
Ceteor’s offices will become Schumacher’s European base. Schumacher is the world leader in professional chargers. No jobs will be lost at Ceteor, and new staff will be taken on to increase the amount of their products distributed on the European market.