Schneider Electric strengthens its Oil & Gas and Petrochemical operations in North America with the acquisition of ECP Tech Services (ECP)
Rueil Malmaison, March 27, 2008 - Schneider Electric has signed an agreement to acquire ECP Tech Services, a US based company that is a provider of power system testing, maintenance and commissioning services to industrial, utility and commercial customers throughout the United States. ECP generated revenues of approximately $36 million in 2007.
With this acquisition Schneider Electric will further strengthen its field service presence in the Gulf Coast area of the US and increase its penetration in the oil & gas and the petrochemical industry.
This acquisition meets Schneider Electric's Return on Capital Employed criteria.
Dave Petratis, Executive Vice-President, Schneider Electric North American Operating Division, commented: “With this acquisition we will expand our service capabilities in the Gulf Coast area as well as give us access to a very exciting customer base”.
“Teaming up with Schneider Electric will give us an expanded service and product offering that will allow us to become an even more valuable supplier to our customers, and to continue our planned growth. ECP Tech Services' customer contacts, market penetration, and our highly skilled work force, added to Schneider Electric's resources and engineered solutions, will make this a powerful combination” said Phil Collins, President of ECP Tech Services.
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