Schneider Electric has announced that it will acquire Austrian automation and variable speed drives company VA Tech Elin EBG Elektronik, subject to regulatory approvals.
This acquisition builds on the longstanding partnership between the two companies, as well as on the 60/40 per cent joint venture set up by Schneider Toshiba Inverter and VA Tech Elin EBG Elektronik in 2004. Schneider Electric said it would strengthen its position in the growing high-power, over 75 kW, segment with this transaction.
VA Tech Elin EBG Elektronik develops and manufactures high-power variable speed drive products and solutions and markets its pDRIVE brand in Germany and Austria. The company has 114 employees and generated revenues of €34 million (£23.5 million) in 2005.
Michel Crochon, Executive Vice-President of the Automation Business Unit at Schneider Electric, said, "Elin provides a perfect addition to the product and solutions line-up that the group wants to offer all its customers in this field."
Schneider Electric expects that this acquisition will meet its return on capital employed criteria within three years from completion.
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