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OTC Services becoming part of the SGB-SMIT Group

Leading transformer manufacturer world-wide is expanding US business

Louisville. A new chapter in the corporate history of OTC Services in Louisville/Ohio has begun. The repair plant for power transformers is to become part of the SGB-SMIT Group, one of the leading transformer manufacturers worldwide. OTC Services was founded in 2007 as an offshoot of MTC Transformers. The new owner will take over all 45 OTC employees, anticipating a significant expansion of operations in Louisville in the years to come.

"The takeover by SGB-SMIT is good news for our employees. We will become part of a transformer manufacturer which is active worldwide and has a strong market position in Europe, Asia and America," said Robert Ganser Jr., Chairman of OTC. "This opens up prospects for additional business and new jobs in Louisville," he added. For the time being, the transfer will not entail any changes for our customers and business partners. Our proven services and contacts will remain the same.

SGB-SMIT looks back on almost 100 years of experience in transformer production. The company runs five production sites in four countries with 1,300 employees: Regensburg and Neumark (Germany), Nijmegen (Netherlands), Nilai (Malaysia) and Golden/Colorado. In Golden, the company has been assembling cast-resin transformers - primarily for wind parks - since 2010. In the future, OTC will become the sixth production site in the SGB-SMIT Group.

The aim is to create additional jobs

OTC will enhance the US business of the SGB-SMIT Group, adding remanufacturing and repair of transformers. SGB-SMIT plans to expand its US business significantly in the years to come. "We will strengthen our current customer relationships and seek out new partnerships to increase employment opportunities in the Louisville Community," the CEO emphasized, adding that the proven brand OTC and the logo will also be maintained within the larger group of companies.

About the SGB-SMIT Group

The SGB-SMIT Group is one of the leading manufacturers of power transformers world-wide. These products are required wherever electric power is generated, transmitted or used: e. g. in power stations, wind parks, solar power plants, grids, industrial enterprises and means of transport such as trains or ships. The company with its central headquarters in Regensburg runs five production sites in four countries: Regensburg and Neumark (Germany), Nijmegen (Netherlands), Nilai (Malaysia) and Golden/Colorado. With its 1,300 employees, the company achieved an annual turnover of 580 mio euros in 2010. The product range includes large transformers, medium-power transformers, small power transformers, oil distribution transformers, cast-resin transformers, controllable shunt reactors, phase shifters and Lahmeyer Compactstationen® (Compact sub-stations). The SGB-SMIT Group distributes its products via sales offices and agencies in 42 countries. The company has customers in more than 50 countries.

www.sgb-smit.com

Utility Rewind/Repair Services:

Christopher Matney
Phone: +1 (330) 871-2444
Email: cmatney@otcservices.com

Contact for Press:

Karen Kosko
Phone: +1 (330) 871-2444
Email: kkosko@otcservices.com

Industrial Rewind/Repair Services:

Bill Bruner
Phone: +1 (330) 871-2444
Email: wbruner@otcservices.com