Schneider Electric sells its Num numerical command subsidiary to Verdoso
Rueil-Malmaison, France, January 31st, 2006 – Schneider Electric announced today the sale of its Num numerical command subsidiary to manufacturing group Verdoso.
This transaction fits in with Schneider Electric’s ongoing strategy to focus on core businesses in which it has critical mass.
For Verdoso, the acquisition of Num represents an opportunity to invest over the long term in a European company that is a leader in highly complex niche markets. Verdoso has committed to ensuring a sustainable future for Num group and to developing its business while leveraging the current management team’s skills and capabilities.
Numerical command specialist, Num group acting in France, Germany, Italy, the UK, the US, Spain and Switzerland, has generated revenue of €48.8 million in 2005.
About Schneider Electric
Schneider Electric is the world’s power and control specialist. Through its world-class brands, Merlin Gerin, Square D and Telemecanique, Schneider Electric anticipates and satisfies its customers’ requirements in the residential, building, industry and energy and infrastructure markets. With 85,000 employees and operations in 130 countries, Schneider Electric generated sales of €10.4 billion in 2004 through 13,000 distributor outlets. www.schneiderelectric.com.
Schneider Electric: Giving the best of the New Electric World To everyone, everywhere, at any time