Siemens Acquires 99% Of Equity Share Capital Of C&S Electrics Limited

CIOReviewIndia Team | Monday, 27 January 2020, 13:34 IST

Siemens Acquires 99% Of Equity Share Capital Of C&S Electrics LimitedDelhi based C&S Electric Limited that makes electronic equipments has been acquired by Siemens Limited for the worth Rs 2,100 crore. This is considered to be the biggest acquisition till date. With the help of this deal, Siemens will be able to sustain its position in supplying of low-voltage power distribution and electric installation in India.

“Joining forces with C&S Electric allows us to bring a more comprehensive portfolio that addresses needs of a very important market,” said Cedrik Neike, member of the managing board of Siemens AG and CEO of the German engineering conglomerate’s smart infrastructure business.

It is said to be completed by the end of this year as closing of the acquisition is subject to regulatory approvals.

Sunil Mathur, managing director of Siemens India said that company will establish a design and manufacturing hub which is going to support fast growing markets around the world in export of electrification solution.

“The deal is margin accretive, it adds to our volumes, and it helps us a roadmap for growth into the infrastructure area for the future,” said Mathur who is also the Chief Executive Officer of Siemens India.

“C&S Electric, founded in 1966 by entrepreneur RN Khanna,Provides electrical and electronic equipment for infrastructure, power generation, transmission and distribution. The company reported revenue of Rs 1,200 crore in the financial year 2019, Mathur said.

C&S Electric’s low-voltage switchgears components and panels, low and medium voltage power busbars as well as protection and metering devices businesses will be retained by Siemens India. Siemens India has decided to dispose some of the other businesses of C&S Electric before the acquisition of shares which will be retained by the owner of C&S Electrics such as medium voltage switchgears and package sub-station, lighting, diesel generating sets, engineering, procurement and construction and the Etacom busbars business.

“C&S Electrics, which operates under its own brand, will help Siemens to better serve customers requiring electrification in areas such as construction, industry, data centres, smart campuses and other city infrastructure,” Siemens said.

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