Rueil-Malmaison (France), January 6, 2005 - Schneider Electric announced today the acquisition of the Magnecraft product range from MSD, Inc., a leading U.S. supplier of industrial relays. These products represented $14 million in sales in 2004.
This acquisition will significantly broaden Schneider Electric’s line-up and make the company one of the top three global suppliers of industrial relays. Industrial relays are automation components used in all types of industrial equipment to switch low currents or interface signals. “Magnecraft products fit extremely well with our existing Telemecanique and Square D products, allowing us to offer our OEM, panelbuilders and end-user customers a complete range of high performance relays for all types of industrial applications. This acquisition will also strengthen our worldwide leadership in electrical contactors," said Dave Petratis, Executive Vice President of Schneider Electric’s North American Operating Division.
"Over a period of several decades, the Magnecraft brand has established and maintained a reputation for excellent quality and the highest level of service and innovation in the United States. We will maintain the Magnecraft brand and continue to support customers with a dedicated relay team. By leveraging their technical expertise and market knowledge, the combined Magnecraft and Schneider Electric teams will provide our customers with the most creative line of industrial relays available on the market.”
About Schneider Electric
Schneider Electric is the world’s power and control specialist.
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, and energy and infrastructure markets.Schneider Electric has 85,000 employees worldwide, operations in 130 countries and recorded sales of €8.8 billion in 2003 through 13,000 sales outlets.Visit Schneider Electric at: www.us.schneider-electric.com .
