PHINIA Inc. has completed the acquisition of Swedish Electromagnet Invest AB, according to a press release.
SEM is a century-old provider of advanced natural gas, hydrogen, and other alternative fuel ignition systems, ignition and fuel equipment, and injector stators and linear position sensors for on- and off-highway commercial vehicle and industrial markets.
The acquisition is part of a strategy from PHINIA to invest in alternative fuel technologies, and will also enable new opportunities in key markets.
"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," said Brady Ericson, president and CEO of PHINIA. "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."
