Schneider Electric acquires Marisio, a leading Installation Systems and Control player in Chile
Rueil Malmaison, France – May 7, 2008 – Schneider Electric has signed an agreement to acquire Marisio, a Chilean company that manufactures and sells Installation Systems & Control (ISC) components. Marisio generated 2007 revenues of €11 million and has 230 employees.
The acquisition is another step in Schneider Electric’s strategy to further boost its presence in the fast-growing emerging countries, that accounted for 32% of its sales in 2007.
Marisio is the number 2 player in wiring devices for the Chilean residential market, with presence also in several countries of South America. Since it was founded in 1947, Marisio has gained a strong reputation for its products quality.
Marisio’s product range, markets and distributors are very complementary to Schneider Electric’s. Marisio will add to the Group’s existing low voltage offering a full and innovative range of wiring devices and residential systems. It will also give Schneider Electric a leading position in the residential markets as well as the opportunity to reinforce its presence in the buildings market by proposing more complete solutions.
Christian Wiest, Executive Vice-President of Schneider Electric’s International Operating Division, commented: “The acquisition of Marisio significantly strengthens our position in Chile and the neighbouring countries of South America. It reinforces the solutions portfolio that we offer to our customers in one of the most promising regions of the world.”
Emilio Marisio, CEO of Marisio, commented: “We are very proud and excited to join Schneider Electric. We think it is the best way to develop our business in Chile, taking advantage of our respective channels and market knowledge”.
This acquisition meets Schneider Electric’s Return on Capital Employed criteria.
About Schneider Electric