After a look at
Tyco and the American market
this Spring,
Schneider Electric SA (
www.schneider-electric.us) turns it
attention to China's Leader Harvest Power Technologies and agrees
to purchase the company for $650 million U.S., subject to certain
adjustments and regulatory approvals. The deal was announced on June 9.
Leader Harvest Power Technologies manufactures medium voltage (MV) speed
drives, ranging from 2 kV to 11 kV, and applications include mining,
minerals and metals, water and wastewater. The company employs more than
750 people. Schneider is a leading player in China with low voltage
drives and this purchase could give it a 40 percent share of the MV
market, the company says. Clemens Blum, executive vp of Schneider
Electric's Industry business, says, "Medium voltage drives provide us
with the opportunity to increase our penetration in a number of
countries, especially in the new economies."
Don't stop there
Separately, on May 30,
Schneider Electric SA signed a definitive
agreement to purchase
Telvent (
www.telvent.com) for, approximately, $2
billion U.S. Telvent produces real-time information management software
and IT solutions for the oil and gas, agriculture, transportation and
smart grid industries. Schneider's CEO, Jean-Pascal Tricoire says, "The
Telvent deal reinforces [Schneider’s] positions in three key
infrastructure markets: smart grid, efficient infrastructures and smart
cities.
The energy sector has seen many acquisitions in the past year. Last
June,
ABB acquired Ventyx Inc.
(www.ventyx.com) and
Insert Key Solutions
(IKS www.insertkey.com), Siemens announced many smart grid projects and
GE acquired Opal Software in October 2010 and Remote Energy Monitoring
earlier this year. Gary Mintchell, Automation World Editor in Chief, has
noticed a shift in the vendor’s focus. In a recent blog post he said,
"When I stopped at the Schneider Electric booth in Hannover (Fair), I
asked about automation. ‘It's over there in the corner,’ I was told.
‘People are most interested in energy these days.’"
Schneider Electric SA
www.schneider-electric.us
Leader Harvest Power TechnologiesTelvent
www.telvent.com
Ventyx Inc.
www.ventyx.comInsert Key Solutions (IKS) www.insertkey.com
