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Schneider Electric Proposes Acquisition of VA TECH ELIN EBG

July 31, 2006 by Jeff Shepard

Schneider Electric has announced that it will acquire, subject to regulatory approvals, VA TECH ELIN EBG Elektronik in Austria. This acquisition builds on the longstanding partnership between the two companies, as well as on the joint venture set up by Schneider Toshiba Inverter and VA TECH ELIN EBG Elektronik in 2004. Schneider Electric thinks that it will strengthen its position in the growing high-power variable speed drive segment with this transaction.

VA TECH ELIN EBG Elektronik has years of experience and expertise in the development and manufacture of high-power variable speed drive products and solutions. It enjoys solid market positions in Germany and Austria with its pDRIVE brand. The company's 114 employees generated revenues of € 34 million in 2005.

Michel Crochon, executive vice president of the automation business unit at Schneider Electric, said: "ELIN provides a perfect addition to the product and solutions lineup that the group wants to offer all its customers in this field."