PR Newswire/Les Echos/
Schneider Electric reinforces its position in Turkey with the acquisition of
Günsan Elektrik, a key Turkish player in wiring device accessories
Rueil-Malmaison (France), Aug 12, 2014 - Schneider Electric SE announced today
that it has signed an agreement to acquire Günsan Elektrik, the second largest
player in wiring device accessories serving residential and commercial
buildings markets in Turkey.
Based in Istanbul and employing over 300 employees, Günsan Elektrik specializes
in wiring device accessories. It has a wide offering including switches &
sockets, miniature circuit breakers and fuse boxes. The company generated
revenues of about TRY 100 million (c. EUR35 million) in 2013, with an EBITA
margin slightly above the Group's Buildings & Partner business.
Günsan Elektrik will bring to Schneider Electric a well recognized brand, a
diffused local distributor network and a competitive manufacturing base in
Turkey. It will complement Schneider Electric's premium offerings with a strong
mid-market product range.
This transaction is in line with Schneider Electric's strategy to focus on
bolt-on acquisitions and further develop its presence in new economies through
offers adapted to local markets. This acquisition is expected to be accretive
on earnings per share from year one and to meet Schneider Electric's Return on
Capital Employed criteria by the end of the third year.
The transaction is subject to regulatory approvals.
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 energy and infrastructure,
industrial processes, building automation, and data centres/networks, as well
as a broad presence in residential applications. Focused on making energy safe,
reliable, efficient, productive and green, the company's 150,000 plus employees
achieved sales of 24 billion euros in 2013, 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 Montegon
Phone : +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
ISIN : FR0000121972
Press Contact :
Phone : +33 (0)1 40 70 11 89
Fax : +33 (0)1 40 70 90 46
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-0- Aug/13/2014 05:51 GMT
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