Edited Press Release
PARIS -(Dow Jones)- French electrical equipment Schneider Electric (SU.FR) Thursday that it has signed an agreement to acquire India's Conzerv Systems.
Conzerv Systems is the recognized market leader in energy efficiency in the Indian Market, serving industrial and commercial end-users in particular, Schneider Electric said.
The company pioneered the design and manufacture of digital energy meters in India since the early nineties. Today, as the market leader with proven technologies and solutions for energy audits & energy management systems, it generates sales in excess of EUR10 million and employs 337 people.
With this acquisition, Schneider Electric will significantly reinforce its position to capture opportunities in the fast growing energy efficiency field in India.
Conzerv products will also further complete Schneider Electric's offering in power monitoring for its international markets.
Company Web site: www.schneider-electric.com
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