Schneider Electric goes shopping
Thursday, 27 October, 2005
Schneider Electric will acquire Invensys Advanced Building Systems' operations in Europe and Middle East (ABS EMEA). ABS EMEA, owned by Invensys plc, is a provider of building automation solutions and services (regulation, monitoring and control of all technical equipment in buildings) in the UK under the Satchwell brand name and has a strong presence across the rest of Europe and in the Middle East. The company generated revenues of US$168 million for the fiscal year ended 31 March 2005, with a restated operating profit of US$12.3 million. The acquisition is subject to regulatory approvals.
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