Home » Schneider Enters Negotiations to Sell Unit to Eaton
Schneider Enters Negotiations to Sell Unit to Eaton
June 21, 2007
Schneider Electric has entered into exclusive negotiations with diversified industrial manufacturer Eaton Corp. for the divestment of MGE UPS Systems. The expected move is to fulfill a commitment to the European Commission following the acquisition of American Power Conversion.   ; Eaton is offering 425 million euros (US$569 million) for the business, which had revenues of 156 million euros (US$209 million) in 2006.   ; MGE UPS Systems, a Schneider subsidiary, is a supplier of a full range of equipment: uninterruptible power supplies, static transfer switches, harmonic filters and advanced power management solutions. It has customers in more than 100 countries.