HVAC Breaking News

June 28, 2005: Schneider Electric To Acquire ABS EMEA

RUEIL-MALMAISON, France - Schneider Electric has announced that it will acquire Invensys Advanced Building Systems operations in Europe and the Middle East (ABS EMEA). The acquisition is subject to regulatory approvals. ABS EMEA, owned by Invensys plc, is a leading provider of building automation solutions and services (regulation, monitoring, and control of all technical equipment in buildings) in the United Kingdom under the Satchwell brand name and has a strong presence across the rest of Europe and in the Middle East.

Building automation is one of the growth platforms on which Schneider Electric has been focusing, says the company. The acquisition of TAC in June 2003 enabled the company to become a major competitor in building automation. The subsequent merger between TAC and Andover Controls, acquired in June 2004, further reinforced Schneider Electric's position, notably in the U.S. market.

The ABS EMEA business will be integrated with the new entity Tour Andover Controls (TAC).

Henri Lachmann, chairman and chief executive officer of Schneider Electric, said, "This acquisition fits very well with our strategy to continue to develop high-growth potential platforms. It will bring us an expanded installed base and additional offering capabilities, notably in peripherals. The complementary fit between Tour Andover Controls and ABS EMEA is strong in terms of solutions and geographic coverage."

For more information, visit www.schneider-electric.com.

Publication date: 06/27/2005

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