Schneider Electric acquires 100% ownership of Electroshield – TM Samara, transforming Russia into a key market for the Group

PR Newswire/Les Echos/ 
Press Release 
Schneider Electric acquires 100% ownership of Electroshield - TM Samara,
transforming Russia into a key market for the Group 
Rueil-Malmaison (France), March 28, 2013 - Schneider Electric announced today
that it has acquired full ownership of Electroshield - TM Samara, further to 
the 50% acquired in October 2010, after obtaining the requisite regulatory 
approvals in Russia. Electroshield - TM Samara is one of the leading Russian 
players in medium voltage with a strong presence in key end markets like oil & 
gas, utilities, mining and other electro-intensive industries. 
Electroshield - TM Samara has operations in Russia and Central Asia employing
around 10,000 people in 4 industrial sites (in Russia and Uzbekistan). It
generated average annual sales of more than RUB 20 billion (~EUR 500 million)
since the Group acquired 50% stake in 2010, with an adjusted EBITA margin in
line with the Group's Infrastructure business. Electroshield - TM Samara has: 
* One of the key positions in Russian medium voltage market with strong  
 local R&D presence that Schneider Electric will continue to grow 
* Local manufacturing footprint that the Group intends to expand to serve  
 the rapidly growing medium voltage market in Russia as well as export  
* Proven execution capabilities for delivering innovative solutions and 
 turnkey projects for medium/low voltage substations 
* Excellent market access to oil & gas, utilities and mining, minerals and 
 metals industries 
Following this acquisition, Schneider Electric can report a step change in its
presence in Russia with a headcount of approx 12,000 and 2012 sales of around
EUR 1.2 billion on a pro-forma basis, making it the Group's second largest
country in the new economies and fourth largest globally. 
Jean-Pascal Tricoire, President and CEO, commented: "I am proud to welcome
Electroshield - TM Samara employees to the Group. Electroshield - TM Samara has
been a close technological partner for a long time. This engagement reaffirms
our commitment to Russia and is a key milestone in our active participation in
the economic and technological development of the country. Electroshield - 
TM Samara considerably enhances our capacity to be a key player in the oil & 
gas and mining industry in the region, as well as to develop energy efficiency 
and smart grid in Russia. This strategic investment also reinforces our 
worldwide presence in the technologies for energy, mining and urban 
infrastructure, and confirms Schneider Electric Russia as an essential 
organization of our company" 
The cumulative price for 100% of equity is RUB 20.4 billion (~EUR 510 million)
with net debt of zero as of today. As agreed, the second half of the equity was
acquired at the same value as the first half in 2010. Previously it was
accounted under the equity accounting method and following the obtention of 
full ownership it will be fully consolidated. This acquisition is expected to 
meet Schneider Electric's Return on Capital Employed criteria. 
Financial Information  
About Schneider Electric 
As a global specialist in energy management with operations in more than 100
countries, Schneider Electric offers integrated solutions across multiple 
market segments, including leadership positions in Utilities & Infrastructure,
Industries & Machines Manufacturers, Non-residential Building, Data Centres &
Networks and in Residential. Focused on making energy safe, reliable, 
efficient, productive and green, the Group's 140,000 plus employees achieved 
sales of 24 billion euros in 2012, through an active commitment to help 
individuals and organizations make the most of their energy.  
Investor Relations :               Press Contact :
Schneider Electric                 Schneider Electric
Anthony Song                       Véronique Roquet-Montégon 
Tél. : +33 (0) 1 41 29 83 29       Phone : +33 (0)1 41 29 70 76
Fax : +33 (0) 1 41 29 71 42        Fax : +33 (0)1 41 29 88 14 
Press Contact :
Michel Calzaroni
Olivier Labesse
Phone : +33 (0)1 40 70 11 89 
Fax : +33 (0)1 40 70 90 46 
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-0- Mar/29/2013 08:31 GMT
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