TECO Electric & Machinery (TWSE: 1504 TT) is the global #3 leader in large-sized motors under the brand TECO-Westinghouse, overtaking GE and behind Siemens and ABB. TECO had acquired Westinghouse Motor in 1995, giving it access to its worldwide manufacturing, engineering and R&D technological know-how, patents portfolio and direct access to original designs for over 400,000 large motors and generators. TECO was established in 1956 by five families. Leveraging off its core business strength in motor technology which contributes around 41% of consolidated sales, TECO has extended into home appliances (17% of sales) which are among the top 3 brands in Taiwan and system automation (5.6%). TECO also owns 63.5% of TECOM, a telecom equipment supplier, which accounts for 13.7% of consolidated sales.
What Makes It a Wide-Moat Business?
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