Rueil-Malmaison (France) May 10, 2005 - Schneider Electric announced today the acquisition of the outstanding shares (53,5% stake) of ELAU AG, based in Germany. This acquisition is subject to antitrust review.As the market leader, ELAU provides core technology that enables packaging machines to deliver the increased efficiency and flexibility demanded in the global packaging industry. In 2004, it has achieved a strong growth of 24% and a high operating margin of 14%. This business responds to three key aspects of Schneider Electric’s strategy:
- The acceleration of growth in the packaging OEM market,
- The widening of its offer in the Motion Control field,
- The strengthening of its presence in the European and North American Industrial Automation markets.As a wholly owned subsidiary, ELAU will enable Schneider Electric to implement an autonomous and dedicated growth strategy for packaging automation.The integration of ELAU expertise together with Schneider Electric worldwide resources give packaging actors access to a wide range of products and solutions for their industry.
About ELAU AG - “On the best machines”
Based in Marktheidenfeld, Germany, ELAU AG is the global leader in packaging automation, with subsidiaries in Italy, France, UK and USA as well as regional offices around the world.
ELAU offers servo motors, controls, drives and software solutions tailored for the packaging industry.
ELAU employs 275 people and has been rapidly expanding its worldwide marketshare, experiencing a remarkable growth over the past years.
About Schneider Electric
Schneider Electric is the world’s power and control leader.
Through its world-class brands, Merlin Gerin, Square D and Telemecanique, Schneider Electric manufactures and markets a comprehensive range of products and services for the residential, buildings, industry, energy and infrastructure markets.
Schneider Electric has 85,000 employees worldwide, operations in 130 countries and recorded sales of €10.4 billion in 2004 through the 13,000 sales outlets of its distributors.Schneider Electric: Giving the best of the New Electric World to everyone, everywhere, at any time Visit Schneider Electric at www.schneider-electric.com .
