Schneider Electric Urals (earlier Alstom Grid)

On January 15, 2014 Schneider Electric announced completion of the transaction on acquisition of assets of the plant of the Ekaterinburg branch "Alstom Grid", including its real estate and a production equipment.

The Alstom Grid plant Yekaterinburg (till 1990 - "The Sverdlovsk electromechanical plant") specializes in production of modern distributors of medium voltage and integral transformer substations for different industries and power supply systems, performing its deliveries to territories of Russia and the CIS countries.

After Schneider Electric asset sale the plant was renamed into "Schneider Electric the Urals" and in 1 quarter 2014 will begin to release the equipment of medium voltage under a brand of the company.

Transaction amount in Schneider Electric is not disclosed, noting only that it is based on independent value assessment of property of the plant. The company told TAdviser that "invested enough" in acquisition of modern production which does not need upgrade, and the further investments connected about "Alstom Grid" Yekaterinburg will be tied to plans for expansion of a line of products made at the plant.

The staff of the purchased plant is fully completed by the employees who passed from the Ekaterinburg branch "Alstom Grid" whose number at the time of the message about the transaction is 210 people. Schneider Electric told TAdviser that staff movements at the plant are not planned.

"The strategy of our company in Russia is a growth strategy and localizations of production therefore we continue to invest in the Russian economy. In 2013 the deal on acquisition of 100% of stocks of Elektroshchit Group - TM Samara was closed", now our positions amplify also the Schneider Electric Urals plant in Yekaterinburg which products are well-known to customers in the Urals, in other regions of Russia and the CIS countries", - note in Schneider Electric.

Add to the companies that long ago conduct technology partnership with this enterprise: at the plant the equipment from Schneider Electric component parts is already issued.

Together with the Schneider Electric Urals plant in Yekaterinburg the production base Schneider Electric in Russia will contain 7 plants and 3 logistic centers. The company notes that on business volume Russia for it is the second country in Europe and the fourth in the world. At the same time in the Power segment which the new plant of the company treats Russia is in the lead among all countries, both on business volume, and by the number of employees.