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March 2, 2021updated 05 Nov 2021 8:43am

Siemens acquires Indian grid technology firm C&S Electric for $285m

Siemens has completed a previously announced acquisition of Indian grid technology manufacturer C&S Electric for $285m (Rs21bn).

By Umesh Ellichipuram

Siemens has completed a previously announced acquisition of Indian grid technology manufacturer C&S Electric for $285m (Rs21bn).

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Siemens purchased approximately 99.22% of the company after receiving regulatory approval from the Competition Commission of India in August last year as well as the completion of further closing steps.

Siemens announced the acquisition of C&S Electric’s Low Voltage Switchgear and Busbar businesses in January this year. Through the deal, the company aims to create an export hub while gaining access to the Indian market.

With the sale, the former owners of C&S Electric aim to consolidate their retained businesses. These mainly consist of lighting solutions, medium voltage switchgear solutions and DG Sets under the ‘Trimaster’ banner. They also plan to use earnings from the sale for growing this business.

During the completion of the transaction, C&S Electric’s scope of business included manufacturing of low voltage switchgear components and panels, low and medium voltage power busbars, and protection and metering devices.

Siemens -AG/”>Siemens managing director and CEO Sunil Mathur said: “The addition of C&S Electric’s products, sales network, manufacturing units and a highly competent employee base will complement and strengthen the range of Siemens ’ offering.

“This will bolster our portfolio not only in India, but also for export to competitive international markets in line with our growth strategy.”

Last month, Siemens Gamesa Renewable Energy secured a contract from an EDF Renewables-Enbridge-WPD consortium to supply offshore wind turbines in France.

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Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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