Siemens buys Spanish switches supplier

FRANKFURT, GERMANY - German industrial conglomerate Siemens AG said it has acquired BJC, Spain's No. 3 supplier of electrical switches and socket outlets. Financial details of the deal were not disclosed.

Siemens said the acquisition will enable its building technologies division, part of the Siemens Industry Sector, to expand its global position on the market for electrical installation technology.

The building technologies division will also gain entry to the residential construction market and improve its access to the market for electrical installation in functional buildings in Spain, the company said.

Based near Barcelona, BJC manufactures and distributes socket outlets, street, garden and industrial lighting as well as plug and socket devices for industrial applications.

BJC has about 380 employees and generated revenue of about 54 million euros ($83.26 million) in 2007, Siemens said.

"BJC will broaden our base on the profitable Spanish market for electrical installation technology," said Godehardt Schneider, head of the electrical installation technology business unit at Siemens.

Related News

doug ford

Hydro One stock has too much political risk to recommend, Industrial Alliance says

TORONTO - A seemingly positive development for Hydro One is overshadowed by ongoing political and regulatory risk, Industrial Alliance Securities analyst Jeremy Rosenfield says.

On October 4, staff from the Washington Utilities and Transportation Commission filed updated testimony in support of the merger of Hydro One and natural gas distributor Avista.

The merger, which was announced in July of 2017 has received the green light from federal and key states, with Washington, Oregon and Idaho being exceptions.

But Rosenfield says even though decisions from Oregon and Idaho are expected by December, there are still too many unknowns about Hydro One to recommend investors…

READ MORE
eu smart grid

EU Smart Meters Spur Growth in the Customer Analytics Market

READ MORE

ev connector

Electricity Grids Can Handle Electric Vehicles Easily - They Just Need Proper Management

READ MORE

tidal power

Is tidal energy the surge remote coastal communities need?

READ MORE

maine electrical worker

Construction starts on disputed $1B electricity corridor

READ MORE