APC 2002 Annual Report Download - page 40

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39
contactors and motor-starters. In Russia, Uralelektro
Contractor, with 105 employees and a strong distribution
network, posted sales of close to 4 million in 2002.
Partnerships in the Gulf countries
To strengthen its positions in major projects, Schneider Electric
concluded a partnership with Danway, a wholly-owned
subsidiary of Emirates Holdings. Emirates Holdings is a key
player in the electrical engineering industry in the Gulf region,
with strong positions in the water, energy, oil and gas markets.
The objective is to manufacture low- and medium-voltage
equipment locally to offer more local-content solutions and
to thus improve flexibility and responsiveness.
Schneider Electric Ventures
A Schneider Electric venture capital fund of 50 million was
set up to finance technologically innovative startups. In April,
Schneider Electric Ventures invested in a Swedish company,
ConnectBlue, specializing in comprehensive, Bluetooth-based
wireless solutions.
Schneider Electric Ventures acquired a 13.1% interest in Open
Wide, alongside Thalès. Open Wide is a solutions architect and
integrator for the manufacturing world.
d) Sale
Schneider Electric sold its nuclear power business to an
American corporation, Data Systems and Solutions,
specializing in the supply of information systems for equipment
management in the aerospace and nuclear power markets.
The nuclear unit based in Grenoble, France, and with
200 employees, recorded sales of 20 million in 2001.
Extension of the product lineup with new ranges
in 2002
Electrical Distribution
In 2002, the Company renewed its low-voltage Compact C
and Masterpact power circuit-breaker lineup. The new ranges
allow Schneider Electric to offer a comprehensive set of
solutions in low-voltage electrical distribution (products,
switchboards and services).
Schneider Electric also launched a new range of transformer
substations called Satia, which are more compact and offer
improved transformer protection features.
Automation
In 2002, the Company launched six new ranges of industrial
control and automation products. These intelligent and
networked products can be integrated into open and
collaborative architectures. These projects required
120 million of investment. The products meet current
international standards (IEC, UL, CSA, etc.).