SCHNEIDER ELECTRIC announced the acquisition of the outstanding shares (53.5 percent stake) of ELAU AG, based in Germany. This acquisition is subject to antitrust review. ELAU provides core technology that enables packaging machines to deliver the increased efficiency and flexibility demanded in the global packaging industry. As a wholly owned subsidiary, ELAU will enable Schneider Electric to implement an autonomous and dedicated growth strategy for packaging automation. In 2004, it has achieved a strong growth of 24 percent (sales were EURO 39.8 million) and a high operating margin of 14 percent.
This business responds to three key aspects of Schneider Electric’s strategy:
- The acceleration of growth in the packaging OEM market.
- The widening of its offer in the Motion Control field.
- The strengthening of its presence in the European and North American Industrial Automation markets.
