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Magnax Secures €35.5 Million Strategic Investment
Belgium-based Magnax has secured a €35.5 million investment led by Pan-International Industrial Corp. and Foxconn Group. ARC Group acted as the exclusive financial advisor. This investment represents a significant milestone for Magnax, a company known for its yokeless axial flux electric motor technology.
The capital increase, approved for foreign direct investment, positions Pan-International as the largest shareholder. Founded in 2015, Magnax develops motors offering higher power density than traditional models, catering to sectors like electric vehicles and aerospace.
The investment will help Magnax industrialise its motor portfolio and establish high-volume production in China, utilising Foxconn's supply chain. Manufacturing will move to China, but R&D remains in Belgium. The incoming management's co-investment underscores the commitment to this strategy.
R. P.
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