The Siemens Automation and Drives (A&D) Group has signed an agreement for the takeover of Cannock, West Midlands-based Electrium, a vendor of electrical installation systems in the UK with access to markets in the near and Middle East.
The company employs around 700 people at four sites in Cannock and Brownhills in the
Sales in fiscal year 2004/2005 (March 31) were approximately €109 million in a market worth around €960 million in the
“This is an important step for the global positioning of Siemens in electrical installation systems. The acquisition of this profitable vendor puts Siemens among the top three vendors in the
Electrium’s name and product brands will be retained along with the established distribution channels when it is acquired by Siemens.
“Siemens will continue to run the Crabtree, Wylex and Volex brands and supplement our portfolio with their products,” said Christopher Thomas, CEO of Electrium who will continue to manage the business. “Electrium’s opportunities for growth are increased through access to Siemens’ resources for research and development, logistics, and global sales and marketing. These are the ideal prerequisites for continuing the growth of recent years.”