Schneider Electric sells its nuclear business
Monday, 07 April, 2003
Schneider sold its nuclear business, based in Grenoble, France, to Data Systems and Solutions, a joint venture formed in 1999 between Rolls Royce in the UK and Science Applications International Corporation in theUS.
Financial terms of the sale were not disclosed. Data Systems provides integrated information technology-based asset management solutions to aviation and nuclear power customers.
This divestment is in line with Schneider Electric's strategy to focus on its businesses with a 'worldwide leadership position'. It will also provide the divested business the support it needs to continue its growth.
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