HVAC Breaking News

June 14, 2006: Schneider Electric to Acquire Invensys Building Systems

RUEIL MALMAISON, France - Schneider Electric has announced that it will acquire Invensys Building Systems (IBS) operations in North America and Asia, subject to regulatory approvals.

This acquisition follows the acquisition of Invensys Advanced Building Systems in 2005, and will be complementary with Schneider Electric's building automation platform, said the company. IBS generated revenues of $142 million for the fiscal year ended March 31, with operating profit of $20 million. The firm is a leading provider of building automation products and services.

According to Schneider Electric, the building automation and control systems market represents significant growth potential for the company. The acquisition of TAC in June 2003 enabled Schneider Electric to become a major player in this market.

Jean-Pascal Tricoire, chief executive officer of Schneider Electric, said, "IBS North America and Asia fits logically and naturally in our building automation platform. TAC and IBS teams will be joining forces to grow their business on a global scale and to bring increased benefits to their customers."

Publication date: 06/12/2006

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2015 AHR Expo

Photos from the 2015 AHR Expo at McCormick Place in Chicago.

Posted: February 19, 2015

Podcasts

NEWSMakers: Andy Patron
Andy Patron, partner with FMI Corp., discusses the impact a national labor shortage may have on the mechanical contracting industry. Posted on March 27.
More Podcasts

ACHRNEWS

NEWS 03-30-15 cover

2015 March 30

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Global Warming

Do you believe in man-made global warming?
View Results Poll Archive

HVACR INDUSTRY STORE

2015.jpg
2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con