Eaton to acquire MGE’s Small Systems business from Schneider Electric
Schneider Electric and diversified industrial manufacturer Eaton Corp. have entered into exclusive negotiations for the divestment of Schneider’s MGE uninterruptible power systems.
Schneider Electric and diversified industrial manufacturer Eaton Corp. have entered into exclusive negotiations for the divestment of Schneider’s MGE uninterruptible power systems for $570 million. Subject to the satisfaction of customary closing conditions, Eaton is expected to acquire the business later this year.
ill provide us with access to new markets and important distribution channels, and will further establish our manufacturing presence in [such] regions [as] China.”
MGE’s small systems business employs approximately 600 people worldwide and is a global provider of power quality solutions designed to increase the availability and uptime of mission-critical applications and processes. Its products include UPS, power distribution units, static transfer switches and surge suppressors. The business is headquartered in Saint-Ismier, France.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey