Schneider could be next ABB target

Schneider Electric’s market price rose 6.2% on the Bourse last week following speculation that Swiss-Swedish engineering giant ABB may make a bid.

The week previous, Schneider had been involved in its own takeover plan when it announced the acquisition of industrial controls manufacturer Crouzet-Automatismes. The company has also acquired industrial controls specialist Positec. Anti-trust authorities will have to approve both deals.

Crouzet was acquired for Euro 242 million while Positec, acquired from Swiss holding company SIG, cost Schneider Electric Euros 195 million. Positec employs a workforce of 800 and should produce a turnover of Euros 110 million, with 46% of this figure being generated on the German market. Schneider was possible attracted to Positec because its serves the fast growing discrete manufacturing.