New Delhi / Kolkata, Aug 6 : Schneider Electric announced today that it has acquired from the MEHER Group, 'Meher Capacitors', which is the leader in the Indian Power Factor Correction Market, serving primarily industrial, commercial, and infrastructure sectors.
MEHER has pioneered and nurtured the design and manufacture of Self Healing Power Factor Correction (PFC) Capacitors & Systems in India since the early eighties and currently possesses state of art technologies as well as comprehensive products & solutions for PFC, Harmonic Filtering & Network analysis. In addition it has in active development technology platforms which are essential for the evolution of future generation PFC Capacitors.

Olivier Blum, Country President of Schneider Electric in India, said: 'With this move, Schneider Electric adds another significant facet to its leadership position in Energy Efficiency in India. It was the logical next step after the recent acquisition announced two months ago.

'We now have a unique and comprehensive offer portfolio in the field of Energy Efficiency encompassing measurement, power quality correction, automation, and monitoring. Our recently formed Energy Management Business Unit can address the full lifecycle of any of our Customers' energy efficiency needs, be it for an industrial set-up, a commercial building, an electrical utility, or in the infrastructure sector.'

Russell Stocker, Executive Vice-President of Schneider Electric's Asia-Pacific Operating Division, added: 'The PFC business of MEHER has a unique blend of cutting edge technologies, high quality products, competitive cost structure, and a very talented team. The fast growing Energy Efficiency field in India and across international markets will benefit from it. We will grow the PFC business of MEHER five times in the next four years, with nearly half of it in the export markets of Asia-Pacific, Middle-East, South America, and Europe.'

Mustafa Wajid, CEO, MEHER Group, said: 'The transaction with Schneider Electric is yet another recognition of MEHER's multi-faceted strengths & capabilities, and of the position it held in the business of Power Factor Correction. The combination of MEHER's technology, its team and Schneider Electric's strong international presence creates a powerful force which will accelerate movement towards global leadership in the Power Factor Correction domain. We at MEHER see this development as an important milestone in our growth journey.'

Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centres/networks, as well as a broad presence in residential applications in more than 100 countries.

(Posted on 06 August 2009, 1680161751 34O239O173O144)