On receiving Competition Commission of India’s (CCI) approval, Siemens has acquired C&S Electric for Rs 21 Billion. As per the deal, Siemens has completed the acquisition of 99.22 per cent equity shares of C&S Electric from its promoters. With this acquisition, the company aims to gain access to the Indian market by developing an export hub for supplying low voltage products to global markets. Siemens India. The acquisition includes low-voltage switchgear components and panels, low voltage and minimum voltage busbars, and protection and metering devices businesses of C&S Electric. However, other company businesses including medium voltage switchgear and package substation, diesel generating sets, lighting, Etacom busbars, and engineering, procurement, and construction business, will be retained by the existing promoters of C&S Electric.
Siemens focuses on distributed energy systems, power generation and distribution, infrastructure for buildings, and automation and digitalization of manufacturing industries. In January 2021, Siemens partnered with Ola, one of India’s leading mobility platforms, to build an electric vehicle manufacturing facility. Siemens had also announced the acquisition of the string inverter business of the KACO new energy GmbH, a manufacturer of energy-related power electronics.
C&S Electric produces electrical products like switchgear, power protection, and electrical distribution products. The acquisition of the company by Siemens was proposed in January 2020 and completed in August 2020. With the acquisition, Siemens aims to be one of the leading providers of low voltage power distribution and electrical installation technology.