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

biden-imposes-higher-tariffs

Biden Imposes Higher Tariffs on Chinese Electric Cars and Solar Cells

WASHINGTON - In a significant move aimed at bolstering domestic industries and addressing trade imbalances, the Biden administration has announced higher tariffs on Chinese-made electric cars and solar cells. This decision marks a strategic shift in U.S. trade policy, reflecting concerns over competition, intellectual property rights, and national security implications.

Tariffs on Electric Cars

The imposition of tariffs on Chinese electric cars comes amidst growing competition in the global electric vehicle (EV) market. U.S. automakers and policymakers have raised concerns about unfair trade practices, subsidies, and market access barriers faced by American EV manufacturers in China. The tariffs aim to…

READ MORE
nuclear

First Nuclear Reactors Built in 30 Years Take Shape at Georgia Power Plant

READ MORE

texas residents line up for water

Texas's new set of electricity regulators begins to take shape in wake of deep freeze, power outages

READ MORE

power pylons

More pylons needed to ensure 'lights stay on' in Scotland, says renewables body

READ MORE

energy chart

Energy dashboard: how is electricity generated in Great Britain?

READ MORE