Siemens has signed a deal to acquire C&S Electric, one of India’s leading providers of electric equipment for power generation, T&D and infrastructure.
New Delhi-based C&S Electric will be bought for around $294 million in an agreement that comprises its low-voltage switchgear components and panels, low and medium-voltage power busbars, plus its protection and metering businesses.
Siemens says the acquisition will strengthen its position in India as a supplier of low-voltage power distribution and electrical installation technology.
Sunil Mathur, chief executive of Siemens (India), said the addition of C&S Electric will bolster the company’s portfolio in India as well as export to competitive international markets in line with its growth strategy.
The scope of the acquisition comprises the Indian operations of C&S Electric’s low-voltage switchgear components and panels, low and medium voltage power busbars as well as protection and metering devices businesses.
Other businesses of the company such as medium voltage switchgear and package sub-station, lighting, diesel generating sets, EPC (Engineering, Procurement and Construction) and the Eta-com busbars business will be retained by the owners.
