Schneider Electric Completes the Acquisition of Andover Controls

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Schneider Electric announces that it has completed the acquisition of Andover Controls, a Bafour Beatty company. Andover Controls is a highly successful player in Building Automation and Security, with sales of $169 million in 2003. Building Automation is one of the new growth platforms identified by Schneider Electric as part of its strategy to develop in strategically related activities with high growth potential.

Andover Controls enables Schneider Electric to considerably strengthen its positions on this market, where it became a major player by the June 2003 acquisition of TAC. Also, with Andover Controls, Schneider Electric benefits from a platform well-suited for expansion in electronic Security, which is a 20 billion market growing by 7% a year.