Industrial manufacturing company Siemens AG signed an agreement to acquire India based C&S Electric Limited for $296 million, through its Indian subsidiary. C&S Electric is one of the leaders in electrical and electronic equipment for infrastructure, power generation, transmission and distribution in India.
The acquisition of C&S Electric will enhance Siemens’ position in India as a key supplier of low-voltage power distribution and electrical installation technology. The merger agreement paves the way for the establishment of a design and manufacturing hub in India by Siemens. The acquisition will also help in the export of electrification products to fast-developing markets around the world.
The acquisition includes 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 of the company. After the deal, C&S Electric will continue to operate under its brand name. The merger will increase Siemens’s position in the electrical business and help serve customers requiring electrification in areas including construction, industry, data centers, city infrastructure & smart campuses.
C&S Electric is employing about 5,000 employees across India. The company was formed in 1966 and is having three main manufacturing locations at Haridwar, Noida, and Guwahati and a research and development canter. The company’s remaining business, such as medium voltage switchgear diesel generating sets, and package sub-station, lighting, EPC (Engineering, Procurement, and Construction) and the Eta-com busbars, will be retained by the owners.
The prominent acquisitions and orders received by Siemens Group in the last quarter are featured below:
- January 2020: Siemens Gamesa Renewable Energy completed the acquisition of Senvion’s European Service assets and Intellectual Property (IP). The deal strengthen the company’s competitive position in Europe by adding approximately 9.0 GW serviced fleet and operations in 13 countries.
January 2020: Siemens AG signed an agreement with Ghana Grid Co. to upgrade the country’s electricity grid. Siemens will help to improve the Ghana’s ability to supply other West African nations, including Burkina Faso, Togo, and Benin.
- December 2019: Siemens announced agreements to deliver power generation equipment for two new peaking power plants in the Republic of Belarus. The power plants will be operated in conjunction with the existing Lukomlskaya and Novopolotskaya power plants in the Vitebsk region of Belarus. The new plants are expected to go into operation at the end of 2021.
- December 2019: Siemens will provide equipment to Lalitpur Power Generation Company Limited (LPGCL), a Bajaj Group company. LPGCL has a coal-fired power plant located in Lalitpur, Uttar Pradesh, India and Siemens will provide advanced digital solutions and a complete thermal twin improving the plant’s performance.
- November 2019: Siemens has signed an agreement to acquire MultiMechanics, Inc., a leading developer of MultiMech finite element software. MultiMechanics helps companies virtually predict failure in advanced materials at an unprecedented level of speed and accuracy. The acquisition of MultiMechanics further expands Siemens ability to create the most comprehensive digital twin by integrating structural computer-aided engineering (CAE) with detailed materials modeling through TRUE Multiscale technology, for a broad range of materials, including polymers, metals, composites, and ceramics
- November 2019: Siemens will supply the equipment to upgrade the Hiep Phuoc 1 steam power plant in Ho Chi Minh City, Vietnam, to a combined cycle power plant. The transformation will increase the plant’s electrical capacity by roughly 780 megawatts (MW) to approximately 1,200 MW. This project, through the Hiep Phuoc Power Co. Ltd. will ensure a reliable, secure, and environmentally friendly power supply for Ho Chi Minh City and Vietnam.
About Siemens AG
Siemens is a Berlin-based global industrial manufacturing and technology company. The company has stood for engineering excellence, innovation, quality, reliability, and internationality for last 170 years. The company is focused on the areas of power generation and distribution, manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process.
Siemens is one of the world’s largest producers of energy-efficient technologies; It is also a leading supplier of medical technologies and is providing solutions in IT, industry, finance, and energy. The company is a pioneer in providing intelligent infrastructure and industry solutions to the world.