Acquisition in Russia
Schneider Electric signed an acquisition contract, thereby acquiring 90% of the shares of Uralelektro Contactor, a Russian company specialized in manufacturing and selling contactors and motor starters 100 to 250 A. Through this acquisition, Schneider Electric will get access to the important local Russian market and it's distribution channels. The company employs 105 people and is located in Mednogorsk, Orenburg region. The turn-over in 2001 was $4.8 million.