Schneider Electric reinforces its position in complete automation solutions in the Middle East
Rueil-Malmaison (France), January 21, 2010 - Schneider Electric announced today that it has signed an agreement to acquire Cimac, the leading systems integrator for industrial automation solutions in the Middle East Gulf region.
Cimac implements complete automation, control and electrical distribution solutions, primarily for Water-Waste Water and Oil & Gas customers. As Gulf market leader with proven technologies and know-how in implementing solutions, it employs over 400 people and generates sales in excess of €40 million.
With this acquisition, Schneider Electric will be able to capture new opportunities in the fast-growing automation market in UAE and across the Gulf countries, while offering geographical complementarities in other Middle East countries.
The closing of the transaction, subject to local authority approvals, is expected to occur soon. This acquisition meets Schneider Electric’s Return on Capital Employed criteria.
About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centres/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, and efficient, the company's 114,000 employees achieved sales of more than 18.3 billion euros in 2008, through an active commitment to help individuals and organisations “make the most of their energy”. www.schneider-electric.com
