Siemens’ Automation and Drives division is bolstering its position in the field of switching and installation engineering by acquiring Moeller’s Busbar Trunking Systems Division.
The Moeller Division itself employs some 600 people at four manufacturing locations in Germany, Spain, the UK and China. The company had sales of approximately 95 million Euros in the last fiscal year.
In December last year, Moeller, which has 11,000 employees world-wide and generated a revenue of 1.1 billion Euros in 2002/3, was acquired by the US private equity group Advent International. The company says that the sale of the division will allow it to concentrate on the production and sales of components for switching, protection and control applications.
The global market for busbar trunking systems currently has a volume of about 700 million Euros and is growing annually by 3-4%.
The purchase price was not disclosed and the deal is still subject to the approval of the anti-trust authorities.