Schneider strengthens its position in India
Saturday, March 6th, 2010On 18 February, in an interview with Le Figaro, President and CEO of Schneider Electric, Jean-Pascal Tricoire, said that "if intelligent acquisition opportunities arise, we will watch them." This is done with the signing of an agreement with Zicom Electronic Security Systems Limited, announced on Friday. It focuses on the acquisition of the assets of its business integration of electronic security systems, namely "Building Solutions Group" and "Special Projects Group. In 2009, this business employs approximately 200 employees, generated turnover of around 30 million euros. Other companies Zicom, including its joint venture in Dubai, are not affected, Schneider Electric said in a statement.
For the CEO of Schneider in India, Olivier Blum, this acquisition comes on the one hand confirm the group's position in this country."This acquisition represents another major step after the sustained development of recent years and integration in 2009 Conzerv Systems and Meher Capacitors, leaders in energy efficiency" make quick cash .
And secondly, the desire to strengthen two areas, "which are among the first challenges facing India and experiencing very strong growth in the country," said Olivier Blum. Namely security and energy management. "With this acquisition, Schneider Electric will be in an even stronger position to seize these opportunities through the support of its 8,000 employees," he continues.
The completion of the transaction, subject to conditions and prior approval of shareholders Zicom, expected in April 2010.
On 18 February, the group posted a turnover down 15.7% to 15.8 billion euros and net income declined 49.3% to 852 million euros.
At the opening of the Bourse de Paris, Schneider Electric Action replica higher CAC 40, Friday: the title ahead of 0.49% to 81.69 euros.
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