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| Siemens acquires of Electrium in Great Britain The Siemens Automation and Drives (A&D) Group, Nuremberg, Germany, has signed an agreement for the takeover of Electrium based in Cannock, West Midlands. Electrium is a leading vendor of electrical installation systems in the United Kingdom with long established access to the important markets in the near and Middle East. Sales in fiscal year 2004/2005 (March 31) were ₤74.5 million (approximately €109 million). All parties have agreed not to disclose the purchase price. The transaction is conditional on approval by the relevant authorities. In the course of the acquisition, Electrium will become a subsidiary of Siemens plc. The market for electrical installation systems in the UK is approximately ₤650 million (€960 million). write your comments about the article :: © 2005 Construction News :: home page |