– SINGAPORE / UK – XP Power Limited announces the appointment of Peter Bucher as a non-executive director with effect from 1 January 2014. Peter (age 69) is well known within the power converter industry and spent his entire career at Traco Electronic AG (“Traco”) in Zurich, Switzerland.
Peter joined Traco in 1967 and in 1985 was appointed managing director, a position he held until his retirement in 2009. Under Peter’s leadership Traco was built into a highly respected company with revenues in excess of US$100M.
Larry Tracey, Executive Chairman, said: “We are delighted to welcome Peter to the Board. He brings a wealth of power experience with him and will be extremely valuable to our business.” There is no additional information required to be disclosed in relation to the Listing Rules in connection with Mr Bucher’s appointment.
About XP Power
XP designs and manufactures power controllers, the essential sub assembly in every piece of electrical equipment tha converts the power from the electricity grid into the right form for the equipment to function. XP typically designs in power control solutions into the end products of major blue chip OEMs, with a focus on the industrial (circa 45% of sales), healthcare (circa 30% sales) and technology (circa 25% of sales) sectors. Once designed into a program, XP has a revenue annuity over the life cycle of the customer’s product which is typically 5 to 7 years depending on the industry sector. XP has invested in research and development and its own manufacturing facilities in China and Vietnam, to develop a range of up to date products based on its own intellectual property that provide its customers with significantly improved functionality and efficiency. Headquartered in Singapore and listed on the Main Market of the London Stock Exchange since 2000, XP serves a global blue chip customer base from 27 locations in Asia, Europe and North America.
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