In a step to meet the increasing demand for electrification across industry, infrastructure and buildings in India, Siemens signed an agreement to acquire New Delhibased C&S Electric. The acquisition of one of the leading providers of electrical and electronic equipment for infrastructure, power generation, transmission and distribution, will strengthen Siemens’ position as a key supplier of low-voltage power distribution and electrical installation technology in India. Under the agreement, Siemens will acquire approximately 99 per cent of the equity share capital of C&S Electric for around Rs 2,100 crore.
The scope of the acquisition comprises the Indian operations of C&S Electric’s low-voltage switchgear components and panels, low and medium voltage power busbars as well as protection and metering devices businesses. Other businesses of the company such as medium voltage switchgear and package sub-station, lighting, diesel generating sets, EPC and the Etacom busbars business will be retained by the owners. C&S Electric has more than 50 years of experience in India and will continue to operate under its own brand name. The combination of the portfolios of the two companies will enhance Siemens position in the business, enabling it to better serve customers requiring electrification.