Schneider Electric has signed an agreement to acquire Conzerv Systems, the recognised market leader in energy efficiency in the Indian market, which serves industrial and commercial end users in particular.  The company pioneered the design and manufacture of digital energy meters in India in the early 1990s. Today, as the market leader with proven technologies and solutions for energy audits and energy management systems, it generates sales in excess of Euro10 million (Rs 67.82 crore) and employs 337 people. With this acquisition, Schneider Electric will significantly reinforce its position to capture opportunities in the fast-growing energy efficiency field in India. Conzerv products will also further complete Schneider Electric’s offering in terms of power monitoring for its international markets. The completion of the transaction, subject to conditions precedent and approvals, is expected to occur soon. This acquisition meets Schneider Electric’s Return on Capital Employed criteria. |
