Rueil-Malmaison, France — (METERING.COM) — June 8, 2009 – Energy management specialist Schneider Electric has signed an agreement to acquire the Indian metering and energy efficiency company, Conzerv Systems
Conzerv Systems, incorporated originally as Enercon Systems Pvt Ltd in 1988, pioneered the design and manufacture of digital energy meters in India, serving industrial and commercial end-users in particular. Today, with technologies and solutions for energy audits and energy management systems, the company generates sales in excess of €10 million 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, the company says in a statement. Conzerv products will also further complete Schneider Electric’s offering in power monitoring for its international markets.
“Together with Conzerv, we now have in India a unique energy efficiency portfolio comprising of audit and measure, active remediation, and monitoring,” commented Russell Stocker, executive vice-president of Schneider Electric’s Asia-Pacific Operating Division. “We are very excited as the combination of products, technologies, channels, markets, and above all talent will transform us into a formidable force in the energy efficiency arena in India and further accelerate our development in this area.”
Hema Hattangady, vice chairman and CEO of Conzerv added: “We feel delighted and proud to become part of the Schneider Electric family. Teaming up with Schneider Electric will help us to complete our India vision and expand the reach of our offer by leveraging Schneider Electric’s presence across the globe.”
The transaction is expected to be completed soon.