Schneider Electric enhances its position in low voltage installation systems with the acquisition of the specialist AEM S.A. in Spain
Rueil Malmaison, France – February 2, 2006 – Schneider Electric has signed an agreement through its subsidiary Schneider Electric España to acquire AEM S.A., a Spanish firm that designs, manufactures and markets low voltage electrical distribution installation systems and equipment for the Residential and Building markets. AEM S.A. generated revenue of nearly €20 million in 2005.
With this acquisition, Schneider Electric adds a full range of metal and plastic trunking and cable trays to its existing low voltage offer. As a result, it will be able to propose complete low voltage installation solutions linking distribution switchboards and wiring devices offers already sold under various Schneider Electric brand names.
Since it was founded in 1979, AEM S.A. has pursued a fast-paced investment strategy, enabling it to benefit from the strong growth in Spanish residential and commercial building construction while enhancing operating performance.
Julio Rodriguez, Executive Vice-President of Schneider Electric’s International & Iberian Operating Division, commented: “This acquisition will allow us to propose our customers in Spain a low voltage electrical distribution offer covering all their needs and highly complementary to our own products sold under the Merlin Gerin and Eunea brand names. By combining AEM S.A.’s technical development and production expertise with the power of Schneider Electric’s sales network, we will be able to accelerate worldwide growth in low voltage installation systems for the residential and commercial markets.”
The transaction should be finalized during the first quarter of 2006.
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