Schneider looks to Middle East; acquires Cimac
26 January 2010
Schneider Electric has bolstered its presence in the Middle East Gulf region with the acquisition of Cimac, a systems integrator for industrial automation solutions. The company focuses on the water/waste water and oil and gas industries, implementing automation control and electrical distribution systems.
Cimac is active in the oil and gas industries
Cimac employs more than 400 people and generates sales in excess of €40 million ($56 million). With this acquisition, Schneider Electric hopes to capture new opportunities in the fast-growing automation market in UAE and across the Gulf countries.
Michel Crochon, executive vice-president of Schneider Electric’s Industry business, said: “Together with Cimac, we are able to further extend our regional capabilities, providing complete automation and control solutions in line with our customers needs. We are very excited as the combination of technologies, channels, markets, and above all talent will transform us into a formidable force in the automation solutions arena of this key region of the world”.
The closing of the transaction, subject to local authority approvals, is expected to occur soon.
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