The Siemens Power Transmission and Distribution Group (PTD; Erlangen, Germany) has announced it will acquire the Trench Electric Holding BV (Amstelveen, Netherlands) for euro 285 million. The previous investors, CVC Capital Partners (London), and Siemens have reached an agreement. PTD is adding new high-voltage products to its portfolio and strengthening its market position mainly in China, in the NAFTA area and in South America.
The Trench Group manufactures high-voltage products such as instrument transformers, bushings and reactors. With a work force of around 1800, Trench achieved in 2003 sales of roughly euro 250 million. The transaction is subject to necessary regulatory approvals.
As an established global player, Trench has operations in Austria, Brazil, China, Canada, Germany, France, the United Kingdom and Switzerland.
“This acquisition of Trench will give Siemens' international high-voltage power transmission business an ideal boost. We can now offer our customers the full high-voltage product spectrum from a single source, at the same time providing improved solutions for reliable energy transmission. We intend to maintain and further develop the good relations with previous customers and partners of Trench and to provide Siemens' support in this direction,” commented Michael Rohde, president of the high-voltage division of Siemens PTD.
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