Schneider Electric buying remaining Elau shares
Rueil-Malmaison, France—Schneider Electric reports that it recently bought the remaining 53.5% of Germany-based Elau AG that it didn’t already own.
Rueil-Malmaison, France— Schneider Electric reports that it recently bought the remaining 53.5% of Germany-based Elau AG that it didn’t already own. The acquisition of these outstanding shares is subject to antitrust review by regulatory authorities.
Elau’s packaging automation technology allows users to increase the efficiency and flexibility of packaging machines. In 2004, it reportedly achieved 24% growth and a 14% operating margin.
Schneider adds that acquiring Elau will help it achieve three
Accelerate growth in the packaging OEM market;
Expand its offerings in the motion control field; and
Strengthen its presence in Europe and North America’s industrial automation markets.
As a wholly owned Schneider subsidiary, Elau also is expected to enable Schneider to implement an autonomous and dedicated growth strategy for packaging automation. Likewise, integrating Elau’s expertise with Schneider’s worldwide resources will give packaging professionals access to a wider range of products and solutions.
Located in Marktheidenfeld, Germany, Elau employs 275 people, and has subsidiaries in Italy, France, U.K., and the U.S. The company manufactures servo motors, controls, drives, and software for packaging applications.
Control Engineering Daily News Desk
Jim Montague, news editor