Schneider combines its LV & Industrial Automation biz with L&T’s E&A biz

September 1, 2020 3:00 pm

Anil Chaudhry has been appointed as the CEO of the combined business – Schneider Electric India Pvt Ltd

Schneider Electric announced the successful completion of the transaction combining L&T’s Electrical & Automation business and Schneider Electric India’s Low Voltage and Industrial Automation Product business.

The combined business – Schneider Electric India Pvt Ltd (SEIPL), is owned 65 percent by Schneider Electric, and global investment company Temasek owns the remaining stake. SEIPL also announced the appointment of Anil Chaudhry– the current Zone President and Managing Director, of Schneider Electric India – as the CEO SEIPL and Zone President India.

SEIPL will see the integration of over 5,000 employees from L&T’s Electrical & Automation business which includes its overseas markets of Middle East and Africa, Indonesia and Malaysia, with over 2,000 of Schneider Electric’s employees.

“SEIPL will go to market with its two distinct portfolio brands, L&T’s Electrical & Automation business and Schneider Electric, along with separate sales teams and partner networks,” an official statement said.

Jean-Pascal Tricoire, Chairman & CEO, Schneider Electric said, “This major strategic move will make India, Schneider Electric’s third largest business in the world, and one of the four major global Schneider hubs for global R&D, global manufacturing. We shall also keep growing our already significant export from our Indian factories.”

The statement adds, “With a mission of boosting India’s economic growth and supporting the government’s vision of an Atmanirbhar Bharat, SEIPL will provide a wide range of products and technologically superior solutions with pan India geographical reach.”