Schneider Electric Combines Low Voltage and Industrial Automation Business in India with Larsen & Toubro’s Electrical & Automation Business
Sept 3, 2020
In line with the Company’s vision to further reinforce its presence in India, Schneider Electric announced the success of completion of the transaction combining Larsen & Toubro’s Electrical & Automation business and Schneider Electric India’s Low Voltage and Industrial Automation Product business, following the initial announcement in 2018.
The combined business – Schneider Electric India Private Limited (“SEIPL”), is owned 65% by Schneider Electric, and global investment company Temasek owns the remaining stake. SEIPL also announced the appointment of Anil Chaudhry – the current Zone President & Managing Director, of Schneider Electric India – as the CEO SEIPL and Zone President India. A virtual day-long ‘welcome’ event will flag off Day 1 of operations of SEIPL.
SEIPL will see the integration of over 5000 employees from L&T’s Electrical & Automation business which includes its overseas markets of Middle East and Africa, Indonesia and Malaysia, with over 2,000 of Schneider Electric’s employees.
With a mission of boosting India’s economic growth and supporting the government’s vision of an Atmanirbhar Bharat, SEIPL will provide a wide range of products and technologically superior solutions with pan India geographical reach. SEIPL will go to market with its two distinct portfolio brands, L&T’s Electrical & Automation business and Schneider Electric, along with separate sales teams and partner networks.
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