Company history

1962 The company VAROATLAS was founded by ATLAS ELEKTRONIK, Bremen and VARO, INC. Dallas, as a joint venture by 50% of each. The intention was a "Technology transfer" from the USA for static power conversion equipment for the first post-war submarines of the German Navy.
1966 ATLAS ELEKTRONIK was taken over by KRUPP. 
1967 KRUPP sold the 50% shares of VAROATLAS to VARO. 
1975 VARO got some financial problems and tried to either liquidate or sell VAROATLAS. The General Manager acquired the company and changed the name to EUROATLAS. 
1978  In order to increase the commercial business EUROATLAS acquired the company Dr. JOVY GmbH in Leer (Germany). 
1979 EUROATLAS acquired the company SPECHT STROMRICHTER GmbH in Leer. Both companies where merged into JOVYATLAS in Leer (Germany). 
1989 MagneTek acquired EUROATLAS and JOVYATLAS and teamed up both companies with a group of four other business units to the sector "Power Technology Systems" 
1991 The production facility in Bremen became too small. A new production hall of 1.357qm floor space was constructed. The total facility size increased to: 2.877qm, EUROATLAS total site area is now: 6.730qm. 
1994  The "Power Technology Systems" sector has been acquired by the existing management team, supported by THE CARLYLE GROUP, from MagneTek. The name of the sector has been changed into POWER PARAGON, INC. 
1998 POWER PARAGON, Inc. became part of L-3 Communications. 
2012  Celebration of the 50th company anniversary.
2014  JOVYATLAS & EUROATLAS legal entities merged in August 2014 to simplify ownership. Both companies remain with the same operational structure and capabilities.
2015  Wärtsilä Completes Acquisition of L-3 Marine Systems International with effect from June 1st, 2015


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