Siemens Limited has completed a previously announced acquisition of India’s C&S Electric’s low voltage switchgear and busbar businesses for $285 million (Rs. 21 billion). Siemens purchased approximately 99.22 percent 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. Through the deal, the company aims to expand its presence in the country and pave the way for the setting up of a design and manufacturing hub that will support the export of solutions. This acquisition addresses the rising demand for low-voltage power distribution in India.
C&S Electric, an Indian grid technology manufacturer, is headquartered in Delhi, India.
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. According to Siemens, 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.