Schneider Electric strengthens its solutions capability for OEMs with the acquisition of RAM Industries
Rueil Malmaison, France – June 10, 2008 – Schneider Electric has signed an agreement to acquire RAM Industries, a leading supplier of engineered control solutions.
RAM provides engineering, design and manufacturing expertise for control solutions to HVAC&R machine manufacturers (OEMs). RAM’s offering helps OEMs improve their time to market, cost position and competitive advantage in energy efficient technologies. The company employs 750 people with approximately half of solutions used in Europe, South America and Asia.
With this acquisition, Schneider Electric’s Automation business will strengthen its offering in the OEM market. It will also reinforce its presence in the dynamic energy efficiency segment.
Chris Curtis, President and Chief Executive Officer, Schneider Electric North American Operating Division, commented: “This acquisition demonstrates our commitment to extend our offering in the OEMs segment, both in the US and abroad. The addition of RAM will accelerate our development as a total, global solutions’ provider and extend our position as a leader in energy efficiency solutions and management.”
Jeff Graby, President and COO of RAM added: “Becoming a part of Schneider Electric is an exciting development for our business. Schneider Electric’s global sales force and strong distribution channel will enable us to deliver our world-class solutions to more customers throughout the world.”
RAM revenues have not been disclosed for confidentiality reasons and considering that their amount is not significant relative to the Group. This acquisition meets Schneider Electric’s Return on Capital Employed criteria.