Rueil Malmaison, October 31, 2007 – Schneider Electric completed yesterday the divestment of
MGE Office Protection Systems to Eaton Corp., as per its prior commitment to the European Commission following the acquisition of APC.
The transaction values the small systems business of MGE UPS Systems (which generated revenues of €156m in 2006) at approximately €425 million (on a debt free cash free basis).
MGE UPS Systems will pursue its operations in large systems and, combined with APC, constitutes the recently established Critical Power and Cooling Services Business Unit of Schneider Electric. Backed by the industry’s broadest service organization and an industry leading R&D investment, the Business Unit's 12,000 employees are helping customers to confront today’s unprecedented power, cooling and management challenges with the most comprehensive range of product and solutions.
About the Critical Power & Cooling Services Business Unit of Schneider Electric
APC and MGE UPS Systems combined to form the $3 billion (€2.4 billion) Critical Power & Cooling Services Business Unit of Schneider Electric. Together, APC and MGE offer the industry’s most comprehensive product and solution range for critical IT and process applications in industrial, enterprise, small and medium business and home environments. APC and MGE solutions include uninterruptible power supplies (UPS), precision cooling units, racks, and design and management software, including APC’s InfraStruXure® architecture the industry’s most comprehensive integrated power, cooling, and management solution.
www.apc-mge.com
About Schneider Electric
Schneider Electric, the world's power and control specialist, anticipates and satisfies its customers' requirements in the residential, building, industry and energy and infrastructure markets. With 112,000 employees and operations in 190 countries, Schneider Electric generated revenue of €13.7 billion in 2006 through 15,000 distributor outlets.
www.schneider-electric.com
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