HVAC Breaking News

Aug. 8, 2005: Schneider Electric Receives Growth Strategy Leadership Award

NAPLES, Fla. - Frost & Sullivan has announced Schneider Electric as the recipient of its 2005 Growth Strategy Leadership of the Year Award for the company's development of a strong strategy to facilitate significant growth in the building automation and controls market.

Having identified areas of penetration in the building automation and controls market, in 2003, Schneider Electric made its first acquisition of TAC, a major manufacturer in the global building automation and controls arena. This acquisition gave Schneider Electric the expertise and quality associated with TAC, as well as a wide product portfolio based on open technologies, says Frost & Sullivan.

"Continuing its growth strategy, in 2004, Schneider Electric announced its acquisition of Andover Controls, an established participant in the building automation and security business," noted Frost & Sullivan research analyst Sapan Agarwal. "This move further consolidated the group's position and brand in the building security market in addition to building automation and controls."

Combining the synergies from TAC and Andover Controls, Schneider Electric has successfully created a formidable force that has changed the competitive landscape of the global building automation and controls market, says Frost & Sullivan.

While having consolidated its position in the core building automation and controls area, Schneider Electric then decided to expand into adjacent markets such as energy management.

"With the recent acquisition of Abacus Engineered Systems, a well known brand name in facility energy and engineering solutions, Schneider Electric has strengthened its market presence in the areas of performance contracting and energy management," said Agarwal. "Moreover, combining the experience and expertise of Abacus Engineered Systems and TAC Energy Solutions has placed Schneider Electric among the top five market participants in North America."

Publication date: 08/08/2005

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