Schneider Electric, the global leader in digital transformation of energy management and automation today announces the signing of an agreement with Larsen and Toubro Ltd. (L&T), a leading conglomerate in India to buy its Electrical and Automation business (L&T E&A) and combine it with Schneider Electric India's Low voltage and Industrial Automation Products Business (the "Combined Business"). Temasek, an investment company headquartered in Singapore, will invest in the combined business and will hold 35 percent of it.
L&T E&A is a recognized player in the Energy Management and Industrial Automation business in India led by an experienced management team. It offers low and medium voltage switchgear, electrical systems & equipment, energy management, metering and industrial automation solutions. It benefits from an extensive ecosystem of partners covering more than 260 cities in India. It has an efficient local manufacturing footprint with 5 manufacturing locations in India along with robust local R&D capabilities. The company is also present in the Middle-East and South-East Asia markets. L&T E&A has over 5,000 employees, excluding Marine Switchgear and Servo watch Systems.
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