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2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 11
2010 IN BRIEF
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2010 in brief
Growth and acquisitions
Acquisition of Areva Distribution
On January 20, Schneider Electric and Alstom announced the
signature of an agreement with Areva for the acquisition of Areva
Transmission & Distribution (T&D). This agreement comes as a
result of the exclusive negotiations that started on November 30,
2009 and after the completion of the consultation of the relevant
employee representatives. On March 26, the European Commission
approved the proposed acquisition by Schneider Electric and Alstom
of Areva’s T&D business. On June 7, Alstom and Schneider Electric
fi nalised the acquisition of the transmission and distribution business
of Areva after obtaining the approvals of the relevant competition
authorities and the French Commission des Participations et des
Transferts (CPT). The consortium agreement signed in November
2009 sets out the transfer of the Transmission business (about two
thirds of the total) to Alstom and of the Distribution business (about
one third) to Schneider Electric, as well as the ways under which
they will be managed. The agreement allows both acquirers to
immediately assume separate operational responsibility of each of
these businesses. Alstom and Schneider Electric will also develop
cooperation between the Transmission and Distribution businesses,
via commercial and license agreements. R&D agreements will be
put in place for the development of innovating technologies to the
benefi t of both companies.
On May 28 and as part of the overall process of acquisition of Areva
T&D, Schneider Electric and Alstom announced a mandatory tender
offer to acquire 20% of the share capital of Areva T&D India Ltd, in
accordance with Indian Takeover regulations and subject to receipt
of necessary Indian regulatory approvals. On December 3, Alstom
and Schneider Electric announced the closing of the mandatory
tender offer on Areva T&D India Ltd, providing both groups with
operational control of the company.
On July 6, Schneider Electric and Alstom signed with the European
Metalworkers’ Federation a European agreement regarding the
social commitments made in the framework of the joint acquisition
of Areva T&D. The agreement refl ects the strong commitments
of the two industrial Groups on the integration of Areva T&D’s
employees, to provide them with a professional future and better
prospects to develop their long-term potential.
Automation and Control
On January21, 2010, Schneider Electric acquired Cimac,the leading
systems integrator for industrial automation solutions in the Middle
East Gulf region with more than 400employees and sales in excess
of EUR40 million. The acquisition will allow Schneider Electric to
capture new opportunities in the fast-growing automation market
in UAE and across the Gulf countries while offering geographical
complementaries in other Middle East countries.
On April13, 2010 Schneider Electric announced the signature of an
agreement to acquire SCADAgroup, an Australian based leading
provider of telemetry products and solutions for the water and
waste-water, oil & gas and electric power end-market segments.
SCADAgroup employs more than 500staff and its full year sales
amounted to AUD102 million (about EUR68million) for the fi scal
year ending in June 2010. With SCADAgroup, Schneider Electric
acquires technologies and product offers to be pushed through
its channels, and execution and service capabilities that are
complementary to its own in these segments.
Building security
On March5, 2010 Schneider Electric announced the signature of
an agreement with Zicom Electronic Security Systems Limited for
the acquisition in India of its electronic security systems integration
businesses, namely its Building Solutions Group and Special
Projects Group. The business recorded revenues of approx.
EUR30 million in fi scal 2009 and has a headcount of about 200.
By combining Schneider Electric’s complete solution offerings,
including Pelco’s world leading video security offers, with the strong
execution capabilities, deep market knowledge and impressive
customer reach of Zicom, the Group expects to attain leadership in
India for fully integrated building management systems.
Medium Voltage
On October20, 2010 Schneider Electric announced the signature
of an agreement to acquire 50% of Electroshield - TM Samara,
the leader in medium voltage products and solutions in Russia,
with key positions in oil & gas, power generation and electro-
intensive industries. The Group employs 7,000 staff and it is
expected to generate revenues in excess of RUB17.0 billion (about
EUR425million) for 2010. With this acquisition, Schneider Electric
will strengthen its position in Russia in terms of customer reach,
local industrial footprint, research & development capabilities and
technical design competencies. Besides, the Group will attain the
number one position in the fast growing Russian medium voltage
market and further consolidate its global leadership position in this
fi eld.
Critical Power & Cooling
On November 23, 2010 Schneider Electric announced the signature
of an agreement to acquire Unifl air S.p.A., the world number 3
manufacturer of in-room precision cooling systems and modular
access fl oors primarily for data centers and telecommunications
applications. The company employs approximately 500 staff and is
expected to generate revenues in excess of EUR80 million for 2010.
With this acquisition, Schneider Electric will broaden its product
portfolio and be in a position to offer customers a complete range
of cooling products and solutions. It will also reinforce its regional
capabilities, global research & development and mechanical cooling
expertise.